If you are retired and itemize your deductions on your federal tax return, you can deduct unreimbursed medical and dental expenses—including Medicare Part B, Part D, and Medigap or Medicare Advantage premiums—to the extent that your total qualifying medical expenses exceed 7.5% of your Adjusted Gross Income (AGI). Additionally, self-employed retirees operating consulting businesses may qualify for separate self-employed health insurance deductions.
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