H.R. 111
To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.
In Plain Language
This bill lets people deduct their health insurance premiums directly from their income taxes without having to itemize deductions. Instead of only getting a tax break if you exceed a certain threshold of medical expenses, you could subtract what you pay for health insurance for yourself, your spouse, and dependents right off the top. This makes it easier for people to get a tax benefit from their insurance costs.
Official Congressional Research Service summary
This bill provides a tax deduction for health insurance premiums paid to provide medical insurance coverage for an individual, the individual’s spouse, and the individual’s dependents. Under the bill, the tax deduction may be claimed as an adjustment to income (also known as an above-the-line tax deduction), which does not require the individual to itemize deductions.
Sponsor
Cosponsors
None listed
Latest action
Referred to the House Committee on Ways and Means.
Jan 3, 2025
Official source
Action history
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