Yes, health insurance premiums are tax deductible for self-employed individuals, whether or not they choose to itemize deductions. This deduction includes premiums paid for the self-employed individual, their spouse, and any dependents, as well as any premiums paid for children under the age of 27.
Premiums can also be deducted for Medicare Part B and Part D, as well as supplemental Medigap policies or Medicare Advantage plans.
However, this deduction is not available if you or your spouse are eligible for subsidized health coverage through an employer. In addition, premiums paid through employee salary deductions via a Section 125 plan are not eligible for the deduction.