What health insurance deductions are available for self-employed individuals?

Self-employed individuals who purchase their own health insurance can deduct all health insurance premiums not only for themselves, but also for their spouse and children. This is a significant tax benefit that helps offset the cost of obtaining private health coverage when you don't have employer-sponsored insurance. To properly claim this deduction, meticulous record-keeping is essential. Self-employed taxpayers must maintain organized documentation and save all receipts related to their health insurance premium payments. Unlike traditional employees who lost the ability to deduct unreimbursed expenses after the 2018 tax reforms, self-employed individuals retain this valuable tax advantage.