Self Employed Health Insurance Deduction

Feb 20, 2014 3 Replies
M

Client has adequate income to deduct the premiums he pays to BCBS as a SEHI deduction. His policy is in his name and cover's not only him, but his three dependent children (BUT NOT HIS WIFE)



His wife is a school teacher and is provided her insurance from the state. However, if she want to add her husband, or kids, she has to pay their entire premium (unsubsidised).



Are the premiums paid by the self employed taxpayer (for just him and his kids) deductible as a SEHI deduction on the front of the return? Or does the fact that the spouse has insurance available to her for free disqualify this deduction?


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A

Yes they are deductible as long as this t/p is not also an employee of some company and the BCBS health insurance is subsidized by that employer.

Or does the fact that the spouse has insurance available to her for free disqualify this deduction?

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M

Alan,

My question exactly! More concisely worded however!!...The taxpayer's BCBS insurance is not subsidized in any way.

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S

Your newsreader is not displaying properly. That was your question, not Alan's. In fact, Alan answered your question. If you read his post carefully he wrote,

"Yes they are deductible as long as this t/p is not also an employee of some company and the BCBS health insurance is subsidized by that employer."

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