Can I Deduct Health Insurance Premiums?

Who Can Deduct Health Insurance Premiums?

With all of the talk about the high cost of major medical insurance, we often forget to mention that the IRS allows this as a deduction for many Americans figuring out their federal taxes. In theory, health insurance premiums are deductible, though not everybody will be able to take it on their returns.

Note that I focus on major medical insurance. However, these rules should apply to qualified long term care insurance, dental insurance, etc.  But also note that disability or medical insurance under an auto insurance policy do NOT apply to this discussion.