To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.

HR 111 would create a new tax deduction allowing individuals to subtract health insurance premiums paid for themselves, their spouse, and dependents directly from their gross income (an "above-the-line" deduction), rather than requiring itemized deductions. This change would apply to premiums paid for insurance covering medical care as defined by tax law, and the deduction would not affect other tax deductions or credits. The bill directly affects self-employed individuals, those without employer-sponsored coverage, and others purchasing individual health insurance. It would take effect for tax years beginning after December 31, 2024, simplifying tax filing for eligible taxpayers.