Health and Life Insurance

Answer: D - None of the above types of premiums count towards an individual's medical expenses for income taxation purposes, including medical expenses or health insurance premiums that are paid by a tax-free distribution from an individual's retirement plan directly to the insurer. Some examples of medical expenses that could be deductible include medical equipment and charges for doctor's services. In addition, qualifying health insurance and long-term care insurance premiums may also be deductible. However, to qualify for income tax purposes, the person's medical expenses must exceed 7.5% of their adjusted gross income in order to be deductible.