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Can I claim Disability or Medical insurance premium?

 
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Can I claim Disability or Medical insurance premium?

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Medical Insurance Premiums

As per CRA, employee-paid premiums to a private health services plan are considered qualifying medical expenses and can be claimed by the employee on their income tax and benefit return. As a rule, premiums that are paid to private health services plans including medical, dental, and hospitalization plans are considered to be eligible medical expenses by the Canada Revenue Agency. Furthermore, any premium, contribution, or other consideration — including sales and premium taxes — that you pay to a private health services plan for yourself, your spouse, or your minor children, is an eligible medical expense. However, the plan you make the payments to must qualify as an eligible private health services plan.

 

Please see our TurboTax article on Deducting Premiums Paid for a Private Health Insurance Plan to learn more about medical insurance premiums.

 

Disability Tax Credit

 

As per CRA, you are eligible for the DTC only if CRA approves Form T2201, Disability Tax Credit Certificate. A medical practitioner has to fill out and certify that you have a severe and prolonged impairment and must describe its effects.  If CRA has already told you that you are eligible, do not send another form unless the previous period of approval has ended or if we tell you that we need one. You should tell CRA if your medical condition improves and you no longer meet the criteria for the DTC.

 

If you meet the eligibility criteria for the disability tax credit, you can claim the disability tax credit.  

Please visit our article on A Guide to the Disability Tax Credit to learn more about the disability tax credit.