Can I claim private health insurance premium as medical?

[Helen]

Can I claim private health insurance premium as medical?

It started as group plan by employer, then I continued to pay by myself. It is eligible for claim?

Thanks

[Papet]

Good day Helen,

You can claim the insurance premium you paid yourself as medical expense, federal (and Quebec if applicable).

Verify your T4 slip (and RL-1 if applicable).
There might be a Box 85 (RL-1, Box 235) with the premium you paid.
If yes, enter the amount in your T4 (or T4/RL-1) page.
 - Box 85 is located at the bottom of the page
 - UFile will then use the amount as Medical expense

If no, enter the amount in the Medical expenses page.

[Helen]

Thank you kindly for your reply.

Box 85 is empty as my employment status changed.

Your reply was helpful.

 

 

[Tankohilery]

In some cases, you might be able to claim private health insurance premiums as a medical expense. However, it can depend on various factors, including your specific insurance plan and local tax laws. To get a clearer answer, you might want to consult with a tax professional or accountant who can provide personalized advice based on your situation. Additionally, you could check out this webpage I found, https://lifestyletothemax.co.uk, which might offer some insights or connect you with others who've had similar questions.

[malcolmanderson]

In Canada, private health insurance premiums are generally not deductible as a medical expense on your personal income tax return. The Canada Revenue Agency (CRA) does not allow individuals to claim private health insurance premiums as a deduction for tax purposes.

However, there is a Medical Expense Tax Credit (METC) in Canada that allows you to claim eligible medical expenses, which may include certain health-related costs. Eligible medical expenses are generally those that are not covered by insurance and are necessary for the patient's medical condition. For example, this was the case with my friend who got psoriasis (https://uvtreat.com/psoriasis/) and underwent forced treatment.

It's essential to review the specific rules and guidelines provided by the CRA to determine which medical expenses are eligible for the METC. Keep in mind that tax laws and regulations can change, so it's always a good idea to consult with a tax professional or check the latest information on the CRA website to ensure compliance with current regulations.

 

[Geo123]

Hello,

The CRA considers private health services plan (PHSP) premiums payable to an insurance company to be deductible – and that can include your premiums for your personal health insurance policy that covers you, your spouse or common-law partner or your eligible dependents.

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/lines-33099-33199-eligible-medical-expenses-you-claim-on-your-tax-return/details-medical-expenses.html#prmms

[Helen]

Thank you everyone for replying to my question.

All were very helpful, and the link to the CRA website was spot on.

[Geo123]

Hello Helen,

You are welcome.