Are my health insurance benefits pre-taxed? How can I find out if they’re pre-taxed?
But if your pay statement doesn’t show whether your health insurance benefits are pre-taxed or not, then you can ask your employer directly. Your employer should actually tell you and provide you with a form that verifies your benefit selections and asks how you want to have your healthcare premiums treated. You have to sign this form every year. You can also check your W-2 form to see if your health insurance benefits are pre-taxed. Look at box 14 because most companies list their healthcare benefits there. You can compare the amount in box 14 to the amount indicated in box 2 where your wages for Social Security purposes are shown. Compare the amounts to the YTD (year to date) wages in your last paycheck stub. The amount in box 2 should be less than the YTD wages shown on your paycheck if your healthcare benefits were pre-taxed. Answer by general public - June 26, 2009 @ 10:27 am No CommentsNo comments yet. Leave a comment |
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Your salary statements should show if your health insurance benefits are already pre-taxed. Pay statements are usually designed to show pre-tax deductions, taxes, and your other deductions. You should keep in mind that nearly all healthcare insurance that people get through their employers are deducted pre-tax. You then have the option to pay with tax paid dollars.
