Financial Accounting Standards
Most premiums are paid with pre-tax dollars, which means they are deducted from your wages before taxes are applied. Deducting them again as a medical expense would be "double-dipping." You can only deduct the premiums if your employer included them in Box 1 Gross Wages of your W-2..Yes, you may be able to take a write-off for health insurance. But there are limits as to how much of your premiums you can write off. If you 're taking your health insurance as a medical-expense deduction on Schedule A, you can deduct only those medical expenses that exceed 10 of your adjusted gross income..
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