Part 1: Are Medicare Premiums Tax-Deductible in 2026?

💵 Are Medicare Premiums Tax-Deductible in 2026?

Many seniors ask the same question every tax season: “Can I deduct my Medicare premiums on my taxes?” The answer is YES — but only in certain situations.
In this guide, we break down exactly which Medicare premiums are deductible, how Schedule A works, special rules for the self-employed, and whether IRMAA counts as a medical expense.

1️⃣ Which Medicare Premiums Are Tax-Deductible?

For 2026 taxes, the IRS allows certain Medicare premiums to be included as medical expenses.

• Part A: Deductible only if you pay premiums voluntarily (rare).
• Part B: ✔ Deductible as medical expenses.
• Part D (Drug Plans): ✔ Deductible.
• Medicare Advantage (Part C): ✔ Deductible.

2️⃣ How Schedule A Medical Deductions Work (7.5% Rule)

Medical expenses — including Medicare premiums — are deductible only if you itemize on Schedule A.

The IRS allows you to deduct medical expenses that exceed 7.5% of your Adjusted Gross Income (AGI).

3️⃣ Special Rule for Self-Employed Taxpayers

If you are self-employed (freelancer, consultant, contractor), Medicare premiums are treated differently.

You may deduct 100% of Medicare premiums (Part B, Part D, Medicare Advantage, Medigap) as an above-the-line deduction.

• No need to itemize
• No 7.5% threshold
• Reduces AGI directly

4️⃣ Is IRMAA Deductible?

Yes. IRMAA (Income-Related Monthly Adjustment Amount) is treated as an additional Part B and Part D premium.

• ✔ Deductible as a medical expense (Schedule A)
• ✔ Deductible for the self-employed (100% rule)

5️⃣ Example — How Much Can You Save?

🔗 Helpful Links

• IRS Publication 502 — Medical & Dental Expenses
• Medicare Costs Overview (Medicare.gov)

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