Know your options

Question

Asked: Apr 25, 2010

How to find out how my health insurance benefits are taed?

Are my health insurance benefits pre-taed? How can I find out if they're pre-taed?

Categories: In Massachusetts

Watch this Question | Email to a Friend

Answers

Your salary statements should show if your health insurance benefits are already pre-taed. Pay statements are usually designed to show pre-ta deductions, taes, and your other deductions. You should keep in mind that nearly all healthcare insurance that people get through their employers are deducted pre-ta. You then have the option to pay with ta paid dollars. But if your pay statement doesn't show whether your health insurance benefits are pre-taed 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-taed. Look at bo 14 because most companies list their healthcare benefits there. You can compare the amount in bo 14 to the amount indicated in bo 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 bo 2 should be less than the YTD wages shown on your paycheck if your healthcare benefits were pre-taed. - June 26, 2009 @ 10:27 am

Answered: May 01, 2010

 

Top Massachusetts Experts

RANK LEADER POINTS
1. Phildaig 40
2. Goquoteme 10
3. Insurancestore 10
4. Jenniferkatz 10
5. Nim 10
View More