John M. Hoffman & Associates CPAs

Frequently Asked Tax Questions

Health, Long Term Care and Medicare Insurance Premiums

 

Medicare Premiums 

Don’t forget that what the government takes out of your social security benefits for Medicare premiums count as a health insurance premium. Please don’t confuse us by listing it as a deduction for health insurance or including it in with your other health insurance. We ask that you provide us with form SSA-1099 and from that form, we pick up your Medicare premiums and deduct them appropriately. 

Don’t forget that the Medicare tax on your wages (withheld by your employer) is not a deductible health insurance premium.