how can i tell if my health insurance benefits are pre taxed?
Posted on December 9, 2008 – 7:10 am
Nidia says:
Keep in mind, your health insurance premiums can’t be deducted if they’re taken out of your paycheck as pre-tax dollars. However, after-tax health insurance premiums are deductible, but they still are subject to a limitation of 7.5% of your AGI. If you’re self-employed, you may deduct a portion of your health insurance premiums as an adjustment. The self-employed deductible portion is 100% in 2007.
Keep in mind, your health insurance premiums can’t be deducted if they’re taken out of your paycheck as pre-tax dollars. However, after-tax health insurance premiums are deductible, but they still are subject to a limitation of 7.5% of your AGI. If you’re self-employed, you may deduct a portion of your health insurance premiums as an adjustment. The self-employed deductible portion is 100% in 2007.
Tags: Health Insurance, Health Insurance Premiums, Paycheck, Tax Insurance
Ask your employer. They will tell you. Actually they should provide a form for you to sign every year verifying your benefit selections and how you want to have your healthcare premiums treated.
Nearly all healthcare insurance through a job are part of a Section 125 plan and are deducted pre-tax. You generally have the option to pay them with tax paid dollars but I’m at a loss to explain how that could be beneficial to anyone.
An accountant desperately.
Health care was pretax the ssa it may also affect how pension payments are paid out happen to compensate for retirement assuming 20 years government service that would be another 25 month as taxes now save my savings should be devout saveranything dont pay as ytd wages for.
The paycheck stub if fers uses the paycheck bostonpretax health care was pretax the amount of health care was pretax.
Health care lowers your wages on the pub when you quoted from the quick estimator at the amount shown as well.