How to deduct your Medical Expenses
COLESHILL INSURANCE
How to Deduct Your Medical Expenses Through Your Business
If you’re self‑employed, you can turn personal medical costs into business deductions using a Section 105 Medical Reimbursement Plan (AgriPlan/BizPlan). This lets your business reimburse you for medical expenses — and those reimbursements become a fully deductible business expense.
What You Can Deduct
Insurance Premiums
Health insurance
Dental & vision insurance
Medicare Part A, B, C, D
Medicare Supplement (Medigap)
Marketplace premiums
COBRA premiums
Out‑of‑Pocket Medical Costs
Doctor visits
Labs & imaging
Hospital bills
Dental work
Vision exams, glasses, contacts
Prescription drugs
Physical therapy & chiropractic
Mental health services
Eligible Family Members
You (the business owner)
Your spouse
Dependents
Children under age 27
What You Cannot Deduct
Employee insurance premiums
Cosmetic procedures
Gym memberships (unless medically prescribed)
Why This Saves You Money
Medical expenses normally go on Schedule A — where most people don’t qualify for a deduction. A Section 105 plan moves those expenses to Schedule C, where they become a business deduction.
Most self‑employed clients save $3,000–$10,000 per year.
Quick Example
A self‑employed household with:
$7,200 health premiums
$1,800 Medicare
$2,000 medical bills
Total: $11,000 Deducted through the business → $11,000 tax reduction At 25% tax rate → $2,750 saved At 35% → $3,850 saved
Simple Steps to Use This Deduction
Set up a Section 105 plan (AgriPlan/BizPlan).
Submit your medical expenses each month.
Your business reimburses you.
Total reimbursements go on Schedule C, Line 14 — Employee Benefit Programs.
Need Help?
I’m licensed and trained on AgriPlan/BizPlan. I can walk you through setup, eligible expenses, and how to maximize your tax savings.
General Insurance & Financial Disclaimer
The information provided is for educational purposes only and is not intended as a recommendation to purchase or sell any insurance or financial product. You should consult with licensed tax, legal, or financial professionals to determine what options are appropriate for your personal situation.
www.coleshillprotects.com
Gary A Coleshill
Licensed Agent
Office: 480 856 7782 x 100
Cell & Text 480 208 4366
NPN: 6746746