Q. I am a Federal CSRS retiree. I have my FEHB insurance deducted from my annuity by OPM. Can I deduct my Blue Cross Blue Shield premiums from my federal income taxes?
A. You can include the premiums on Schedule A of Form 1040; however, the amount wouldn’t be deductible unless your total medical expenses exceed your adjusted gross income by 7.5 percent for the year.