For those taking the medical deduction

KittahMama

Just an fyi- you can deduct any premiums paid towards your health insurance, including employer sponsored programs.  I didn't realize that- and we were already over the 7.5% but that extra amount really helped!

hannah&ben

Ummm....not according to my tax accountant.  Did something change?  I thought it's always only been premiums paid for COBRA or other independently purchased (non-employee sponsored) plans. 

ETA: Ok, so it's not always been independently purchased plans.  I'm sorry.  I was working under the assumption that all employee sponsored plans were paid for with pre-tax $$.  Apparently some people's aren't.  You may be one of those people.

However, if like a lot of people, your share of your insurance premiums are paid with a pretax reduction in your salary (or in any way excluded from your taxable income) they are absolutely not a qualifying expense.  Sure would be nice to double dip...  get that money tax free then get to deduct it  

For reference, if anyone needs it (starts on page 8)

https://www.irs.gov/pub/irs-pdf/p502.pdf

Also, an easier to understand explanation.

https://www.taxpolicycenter.org/briefing-book/key-elements/health-insurance/exclusion.cfm

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So, people taking the deduction *might* be able to include their health insurance premiums.  It depends

KYmama9286

Thanks for the clarification Hannah! I got *really* excited b/c we pay a lot per month for our insurance...thennnn I realized it is definitely deducted from DH's paycheck pre-tax. Boo! Oh well, we will be WAY over the 7.5 threshold.

Mrs_D_in_KY

Thanks for the clarification Hannah!

We were able to claim all of our expenses paid out of pocket for our medical expenses in 2010. After gathering all of our receipts - I didn't realize we paid so much!