Potentially. Medicare premiums voluntarily paid for qualifying coverage can enter the self-employed health insurance deduction. For an employee who owns more than 2% of an S corporation, the corporation must pay the premiums or reimburse personal payments and report the premiums as wages in Form W-2, box 1. A personally named policy can qualify with the required reimbursement and reporting.
The deduction is limited by the relevant S corporation earned income; use Form 7206 and its worksheet rather than deducting every premium automatically. Exclude months when you were eligible for a subsidized plan maintained by your employer or an employer of your spouse, dependent, or child under 27. Eligibility matters even if you declined coverage. Do not deduct the same premiums again elsewhere. This answer covers Medicare premiums; supplemental policies require a separate coverage check.
Primary sources
Instructions for Form 7206 (2025) | Internal Revenue Service
S corporation compensation and medical insurance issues | Internal Revenue Service