Are Medicare premiums tax deductible?

2-minute readPublished 04/17/2024Updated 03:26 PM EST, 03/19/2026

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Yes, Medicare premiums can be tax deductible. The Internal Revenue Service (IRS) considers premiums for Medicare and other health insurance policies as qualified medical expenses.

However, there are certain guidelines you must meet before you file your taxes. Here’s a closer look at which parts of Medicare are tax deductible, what expenses are not eligible for a tax deduction and more.

Key Points

Medical and dental expenses—including premiums—can only be deducted if they add up to 7.5% or more of your adjusted gross income (AGI) as it appears on your tax returns.¹
To claim the deduction(s), you must itemize your deductions (list each 1 specifically) when you file your taxes.
The rules may change over time so if you have questions about your eligibility, ask your personal financial advisor or tax professional.

Which parts of Medicare are tax deductible?

If you or your tax professional believe you’re eligible to deduct out-of-pocket medical expenses when you file your taxes, and you itemize your deductions, the following Medicare premiums may be deductible:

Medicare Part A (hospital) premiums. Most people who have worked and paid taxes don’t pay a monthly premium for Part A.

Medicare Part B (medical) premiums. In 2026, the standard monthly Part B premium is $202.90.

Medicare Part C (Medicare Advantage/MA) premiums.

Medicare Part D (prescription drug plan) premiums. You’ll pay a separate monthly premium if you choose a stand-alone prescription drug plan.

Medicare Supplement Insurance (Medigap) premiums. Premiums vary from state to state and are based on your age when you sign up.

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2-minute readPublished 04/17/2024Updated 03:26 PM EST, 03/19/2026

What expenses qualify as itemized deductions?

Here are a few examples of out-of-pocket payments that qualified tax filers may be able to deduct on their taxes:¹

Preventive care
Medical treatment of illnesses or injuries
Surgeries
Dental and vision care
Visits to psychologists and psychiatrists
Prescription medications
Glasses, contacts, false teeth and hearing aids

What expenses are not eligible for a tax deduction?

Here are just a few examples of health-related expenses that are not tax deductible:

Over-the-counter vitamins and mineral supplements
Elective cosmetic surgery
Teeth whitening
Personal hygiene items
Gym memberships
Drugs not approved by the Food and Drug Administration
End-of-life costs for funerals, burial or cremation¹

Can I deduct Medicare premiums if I’m self-employed?

If you’re self-employed and your business shows a profit you can claim your health insurance premiums as a tax deduction. This includes premiums for Medicare Parts A and B, Medicare Advantage , Part D prescription drug plans and Medicare Supplement plans . Keep in mind that you can only claim these deductions on your income tax return, not your employment taxes.¹

What documents are required to deduct my Medicare premiums?

These documents will help you prove what you paid for Medicare when you file your taxes:

Form SSA-1099: This is a statement you get from Social Security every year. It shows how much you received in benefits and how much was taken out for Medicare.
Receipts or bills: If you pay your Medicare premiums directly instead of having them deducted from your Social Security check, keep any bills or receipts that show what you paid.
Self-employment records: If you’re self-employed, you might be able to deduct your Medicare premiums as part of your business expenses. Keep records of your income and expenses.

Insurance can be complicated. Insurance and taxes? Well, that can be really complicated! Still, it’s worth doing a little work now to see if you can save next April 15. If you have questions, ask a tax expert or check the IRS website opens in new window for more help.

Frequently asked questions

1. Can I use my health savings account (HSA) to pay Medicare premiums?

Funds in an HSA or flexible spending account have never been taxed. Deducting expenses paid for with these accounts would be like double-dipping, so the IRS does not allow that.

2. How much does Medicare cost?

In general, you’ll want to look at premiums, deductibles, copays and out-of-pocket spending limits when considering overall Medicare costs. Those costs will vary based on whether you opt for Original Medicare or a Medicare Advantage plan. Learn more about the specific costs of Medicare Parts A, B, C and D .

3. How do I qualify for a Medicare tax deduction?

If your medical expenses, including Medicare plan premiums, add up to 7.5% or more of your adjusted gross income and you itemize your deductions, you should qualify.¹