Q. I am retired and collect an annuity from the government. I also pay a monthly premium for insurance. Is the premium deductible along with any other out-of-pocket costs that I can claim on my income taxes?
A. Only if your expenses exceed the limits contained in the current tax code. For more information, go to www.irs.gov/Individuals/Questions-and-Answers:-2013-Changes-to-the-Itemized-Deduction-for-Medical-Expenses.