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jdefl4444
Level 1

Can I claim the self employed health insurance premium deduction if I was still within the 18 month window for COBRA eligibility from a former employer?

I left a job in June 2018 and paid for COBRA health insurance from that employer through the end of 2018.  Beginning in 2019, I cancelled the COBRA coverage and began health insurance coverage through the federal healthcare exchange because it was $500/mo cheaper.  COBRA coverage would technically have been available to me for 18 months total, through the end of 2019.  I have been assuming that I cannot deduct the insurance premiums that I paid for a different plan in 2019 because I 'opted out' of COBRA.  Is this is correct?  Thank you.
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Best answer February 17, 2020

Best Answers
katherinejoyceO
QuickBooks Team

Can I claim the self employed health insurance premium deduction if I was still within the 18 month window for COBRA eligibility from a former employer?

Welcome to the Community, @jdefl4444. Thanks for sharing detailed information on your concern. 

 

Yes, that's true. Opted out of health insurance offered to you by an employer, your spouse’s employer or your parents would make you ineligible in claiming the health insurance deduction for premiums you've paid. 

 

To know more about the qualifications of claiming the self-employed health insurance in QuickBooks, refer to this help article: Health Insurance Premiums

 

Also, see these links to learn more about how the Health Insurance Premium being reported in QBSE:

 

Visit again if you have additional concerns. We're always delighted to assist.

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1 Comment 1
katherinejoyceO
QuickBooks Team

Can I claim the self employed health insurance premium deduction if I was still within the 18 month window for COBRA eligibility from a former employer?

Welcome to the Community, @jdefl4444. Thanks for sharing detailed information on your concern. 

 

Yes, that's true. Opted out of health insurance offered to you by an employer, your spouse’s employer or your parents would make you ineligible in claiming the health insurance deduction for premiums you've paid. 

 

To know more about the qualifications of claiming the self-employed health insurance in QuickBooks, refer to this help article: Health Insurance Premiums

 

Also, see these links to learn more about how the Health Insurance Premium being reported in QBSE:

 

Visit again if you have additional concerns. We're always delighted to assist.

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