Q: Are COBRA insurance premiums deductible? A: Yes they are deductible as a medical expense. You can only deduct the amount of medical expenses in excess of 7.5% of your Adjusted Gross Income and then only if you itemize deductions.
COBRA – Federal Premium Assistance Information On Feb. 17, 2009, President Barack Obama signed the American Recovery and Reinvestment Act of 2009 (amended on Dec. 19, 2009 by the Department of Defense Appropriations Act of 2010), which includes a COBRA health insurance premium subsidy for eligible individuals. Under the law, the federal government will subsidize […]