If you pay for your own health insurance, you can deduct it as an “adjustment to income” on Page 1 of Form 1040. If you itemize deductions, you can deduct reimbursed medical and dental expenses on Schedule A (if they total more than 10% of your adjusted gross income). But most of us don’t spend that much on health care, so we don’t get full deductions for what we spend.

What if there were ways to write off medical bills as business expenses? Well, there is; it’s called a Section 105 plan (or Medical Expense Reimbursement Plan). If you qualify, you can write off just about any legitimate medical expense. Tax-deductible expenses include health insurance premiums, long-term care coverage, Medicare and “Medigap” insurance, co-pays, coverage deductibles and out-of-pocket prescription costs, dental, vision, and chiropractic care. Many big-ticket expenses, such as dental braces, fertility treatments, and LASIK surgery, are also covered. The list even includes non-prescription medications and medical supplies like aspirin and cold remedies.

The best part is, this is money you’d spend anyway—whether you get a deduction or not. You’re just moving these expenses from a non- deductible area on your return to a deductible area. You’ll save income tax on whatever you deduct, and you may also save self-employment tax.

If a Section 105 plan won’t work, then a health savings account can be implemented. These arrangements combine a high-deductible health plan with a tax-free savings account to cover reimbursed costs. They give you many of the same benefits as a Section 105 plan, without quite the same degree of flexibility. This will help you extract the highest level of value from your medical expenses.