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Health and Taxes
An insurance resource center for tax season and beyond

When the Affordable Care Act’s shared responsibility provision (i.e., individual mandate) took effect in 2014, the relationship between health insurance and taxes changed. And though the Trump administration promises to repeal and replace the ACA (i.e., Obamacare), which will surely shake things up, the current law remains in effect for now.

That means you may still be subject to the individual shared responsibility payment (i.e., Obamacare tax penalty) when you file your 2016 taxes. Additionally, subsidies and exemptions are still available. Use this resource center to access basic information about health insurance, the ACA and taxes. Be sure to contact your tax professional for assistance and to ask specific questions.

Ask Frank About Health & Taxes

Frank your open enrollment companion

If you have additional questions, contact your health insurance agent – or look for one using the Agent Finder.

Ask Frank: Question of the Week

Dear Frank,
I’m a recently self-employed freelance designer who buys her own health insurance, and I have some tax-related questions. Are my monthly plan premiums deductible? What about other medical expenses? Thank you for your help!
– Itemized in Ohio

Hello Itemized,
You may be eligible to deduct your health insurance premiums if you are self-employed and have a net profit for the year—you can’t deduct more than you’ve earned. According to the IRS, you should keep the following in mind: