My Business To Do, Inc.

Don't I already get to deduct my benefits?

Probably not.  Benefits are broken into two categories:
-  Medical or Health Premiums
-  Uninsured Medical Expenses

Self-employed Individual/Family Medical Insurance, as a general rule is deductible from your personal tax return as an Adjustment to Gross Income.  This can include Medicare Premiums and Supplements, but usually not COBRA premiums  While this deduction reduces your income tax computation, it does not lower the calculation for self-employment taxes, which can be up to 15.3% if your business income is $160,200 or less for 2023 ($170,400 for 2024).

Uninsured Medical Expenses are very difficult to deduct.  Please refer to What are my tax options for benefits.

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