05 Mar Can I deduct Medicare premiums from my federal taxes?

Q. I work as a sole proprietor. And all these years I did not have health insurance. But now, I have Medicare (which means, I am old!). I see I could deduct it as health insurance from my business, but I saw some conflicting information: does my Medicare have to be in my company’s name? I don’t have a company name, I just work as myself and bill as myself. Given that, can I deduct the cost of my Medicare premiums from my federal taxes if it is just in my personal name?
— Do-it-yourselfer

A. Based on information found on the IRS website, you should be good to take the deduction.

“Medicare premiums you voluntarily pay to obtain insurance in your name that is similar to qualifying private health insurance can be used to figure the deduction,” the website says.

You can claim the deduction for self-employed health insurance on Schedule 1 (Form 1040), line 17, it said.

But because other eligibility requirements may apply, we recommend you speak to a qualified tax preparer. You can read more on the IRS website.

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This story was originally published in March 2026. 

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