Since 2015, employers with at least 50 full-time equivalent employees have been required to offer affordable, minimum essential coverage to their full-time employees and if it least one employee got a policy in the exchange with a subsidized premium. The annual penalty is the number of full-time employees (minus 30) multiplied by $2,000. (Additional details for calculating the penalty are here.)
It's important for the self-employed to know all the ways they can save a few dollars here and there. One obvious place to look is on their tax forms, but one look isn't enough.
For the self-employed, premiums affect modified adjusted gross income, which in turn affects premiums. But the IRS has a method for addressing this circular situation.
If you’re self-employed, you can generally deduct the full amount you pay in premiums without having to itemize your deduction.