Well, Yes and No. You can always deduct your individual health insurance premiums on your Schedule A, Itemized Deductions, on your income tax form along with other eligible medical expenses. The catch is (there always is one isn't there?) that you have to itemize your deductions (which you are probably doing as a self-employed person) and that thanks to ObamaCare your total deductible medical expenses now have to exceed 10% of your income before you receive any tax benefit. This is generally a pretty high bar to clear for most self-employed people and so the net effect for most self-employed persons is that they receive little or no tax benefit.
But as some politicians seem to like to point out, you didn't really build your business. So, why should you get a tax break? And someone has to pay the taxes to provide for the subsidies for other people's health insurance or Medicaid coverage. We all know that everyone who owns a business is rich so why not you?
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But as some politicians seem to like to point out, you didn't really build your business. So, why should you get a tax break? And someone has to pay the taxes to provide for the subsidies for other people's health insurance or Medicaid coverage. We all know that everyone who owns a business is rich so why not you?