Health Insurance Affordability Act of 2002

Health Insurance Affordability Act of 2002 - Amends the Internal Revenue Code to permit a 100 percent itemized tax deduction for an individual for the amount paid for coverage of the individual, spouse and dependents under insurance that constitutes medical care, except for cases in which substantially all of the coverage is of certain specified "excepted benefits." Sets forth that an amount allowed to be so deducted shall not also count as a deduction under other specified parts of the Code or be taken into account in determining net earnings from self-employment.

Allows a deduction for 100 percent of a self-employed individual's health insurance costs for himself or herself, spouse, and dependents, unless such individual participates in an employer-maintained health plan. (Current law provides for a phased-in 100 percent deduction and disallowance upon participation eligibility).