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Question
As a freelancer, can I write off health and medical expenses?
Answer

Yes! Self-employed health insurance is a completely legitimate business write-off, and it can include coverage for yourself, your spouse, and any dependents. In addition, you can also deduct premiums for dental and long-term care insurance.

While it’s technically a business expense, it’s not included on your Schedule C so it can’t be used to lower your self-employment tax. Instead, it’s recorded on page 1 of your 1040 as an adjustment to income, so it lowers your overall income, which means less income tax.

To qualify, you can’t have health insurance from any other source, or be eligible for coverage from any other source (such as your spouse’s employer). The health insurance must also be standard medical insurance (such as Marketplace plans) - healthcare sharing organizations do not count.

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