Is Medicare Part B Premium Tax Deductible?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Yes, Medicare Part B Premium is Tax Deductible per Schedule A of form 1040 on your tax return, up to a limit. If the Medicare Part B premium (pluslong term care and other health insurance premiums) plus co-pays and out of pocket expenses exceed 7.5% of your Adjusted Gross Income (AGI), you can deduct the amount that exceeds 7.5% of your AGI.
    Answered on June 24, 2013
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