Monday, February 4, 2008

Deducting Health Insurance Premiums

Hi June,

Love the site but I didn't find what I was looking for. my husband has recently started his own cabinet business. We are still in the making and will probably set up as a sole proprietor with wife as employee.

I am currently employed full time and have medical insurance coverage. I have included him on my plan since he left his job to become self employed.

Am I correct that we cannot use the insurance payment deducted out of my pay as a company expense/deduction? My insurance is covered by my employer but I have to pay for his on a monthly basis,

I have read so many different scenarios but am still confused.

I appreciate your help in advance.

Susan from Goldsboro, NC

Hello Susan,

I'm pleased you like my site. Thanks for letting me know.

I assume then that you have already read all the posts on health insurance. If not check out the category insurance -- health/medical on the left. You will see that you may deduct health insurance premiums only if you are your husband's employee and an employee medical benefit plan has been set up for you.


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