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A question about employer paid healthcare premiums

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posted on Feb, 3 2017 @ 06:17 PM
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Does anyone here have healthcare through their employers? For US members!!!!

Do you have to pay taxes on what your employer pays for your healthcare????

Do you end up paying income tax on the part of the premium your employer contributes?
I now get Blue Cross as a retiree benefit with my former employer....and just got a 1099-MISC with a sizable amount of income to report and pay taxes.

I have a call to them to explain this to me, as the change wasn't for the whole year....and I have no clue with this is all about.

But....does the government consider those employer paid premium a taxable fringe benefit???????????????




posted on Feb, 3 2017 @ 06:21 PM
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a reply to: DontTreadOnMe

I have never been 1099'd for that...I would have to break out a calculator and some pay stubs to determine if I pay income tax on my employers portion of my insurance. I will if you don't get an answer soon, but I just got done with an 11 hr day and am too tired to do it now lol.



posted on Feb, 3 2017 @ 06:25 PM
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originally posted by: DontTreadOnMe
Does anyone here have healthcare through their employers? For US members!!!!

Do you have to pay taxes on what your employer pays for your healthcare????


Yes. You pay taxes on every benefit you receive that can be quantified in monetary terms.

Even some things you might not even consider.

For example, you borrow the company car from your boss, and run out and do some grocery shopping, you pay tax on the value of that short term "rental" benefit.

Few people report all their benefits to the IRS. But, you're supposed to. And every benefit the IRS hears about, they'll tax for sure.



posted on Feb, 3 2017 @ 06:35 PM
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originally posted by: AMPTAH

originally posted by: DontTreadOnMe
Does anyone here have healthcare through their employers? For US members!!!!

Do you have to pay taxes on what your employer pays for your healthcare????


Yes. You pay taxes on every benefit you receive that can be quantified in monetary terms.


No. Healthcare as a benefit while you are an employee is NOT TAXABLE. I am 100% sure about this. If you get benefits after you are no longer working i'm not sure, but as an employee. no taxes.



posted on Feb, 3 2017 @ 06:45 PM
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a reply to: DontTreadOnMe

I haven't the slightest clue...
But, you had to have signed a 1099/w4 for the year you'd be qualifying a tax burden?

What I mean is, you should not be held accountable if there is no tax document obligating you.
I'm sure you're going to get your wallet molested...
The way it is in general, you are the one who made the mistake, never uncle sam.

Your signature is what binds you.



posted on Feb, 3 2017 @ 06:57 PM
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a reply to: DontTreadOnMe

I have BCBS of Oklahoma thru my employer and they pay 100% of my premiums as well as the premiums for my child. I pay no taxes on this. I keep the books and do payroll taxes and withholdings and then turn it all over to our cpa at the end of the year for the final reckoning and he has never once mentioned taxing any of us for our healthcare premiums.



posted on Feb, 3 2017 @ 07:01 PM
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Healthcare premiums are not taxed



posted on Feb, 3 2017 @ 07:05 PM
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a reply to: DontTreadOnMe

Sometimes... You do. It can be considered earned income or taxable gains... because you benefitted from them. Don't go by me though... get competent tax advice.
edit on 3-2-2017 by mysterioustranger because: (no reason given)



posted on Feb, 3 2017 @ 07:56 PM
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originally posted by: schuyler
No. Healthcare as a benefit while you are an employee is NOT TAXABLE. I am 100% sure about this.


Ok, I just checked. You're partly right. Sometimes it's not taxable, and sometimes it is.

It's more complicated than I thought. Depends on your personal situation.



posted on Feb, 3 2017 @ 09:23 PM
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a reply to: DontTreadOnMe

HeLthcare can be paid pre tax. Your company could have it structured that way for a certain reason. You can get it by including it in the proper way when filing your taxes. Ask your/a CPA. It's standard procedure.



posted on Feb, 3 2017 @ 09:33 PM
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a reply to: DontTreadOnMe

Note: posted this earlier (and it sat). Sorry if it's old/dated.

Depends on the program. There are pre-tax Health investment accounts, post tax health care plans, HMO's, PPO's and all manner of other permutations.

I generally stay away from pre-tax health care investment plans, because when you look at the larger financial picture they're maybe good if you have a lot of kids (which we don't), but the deductibles are penalizing. Again, it all depends on the plan.

I can give you some ideas of what plans look like for engineering type firms with 100,000 employees if you like, but here again, it's all a function of size of company, size of contributions and many other factors.

Sadly, ObamaCare has jacked up almost everyone's healthcare corporate healthcare plans. And, before you start go off on me about politics, it's not about that. Simply, it's just become more expensive. Partisainship aside



posted on Feb, 3 2017 @ 09:51 PM
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a reply to: loveguy

I signed nothing.

All I have ever gotten is the 1099 for my pension.



posted on Feb, 3 2017 @ 09:53 PM
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a reply to: EightAhoy
Those dirty, rotten bastards!!!!


I hope the Benefits Office can shed some light on my situation next week....and fix the thing.
I only had benefits with them for two months.


edit on Fri Feb 3 2017 by DontTreadOnMe because: (no reason given)



posted on Feb, 4 2017 @ 01:07 AM
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Sorry for offering you information you really didn't want.

I will refrain in the future.

Best.



posted on Feb, 4 2017 @ 07:26 AM
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a reply to: Flyingclaydisk

No...I needed that info....obamacare.....the gift that keeps on taking

edit on Sat Feb 4 2017 by DontTreadOnMe because: ADDED a "c" for obamacare



posted on Feb, 4 2017 @ 05:55 PM
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originally posted by: DontTreadOnMe
a reply to: Flyingclaydisk

No...I needed that info....obama are.....the gift that keeps on taking


I'm also one of the fortunate few who gets health insurance through work- I know that I don't get 1099'd for it, but it's possible they do take something out ahead of time for the tax on that. I don't look that closely- it makes me too angry.

Health insurance is a black hole that takes money from me- Even with 100% employer paid insurance, I can't afford to see a doctor. This is because now that everyone has insurance, prices have climbed so that the cost of healthcare costs what it would if nobody had insurance- on top of what insurance pays out. Which for me, isn't enough. Have to be on welfare to afford a doctor, it seems.

Insurance is a gamble- fire insurance is betting the cost of the insurance against the cost of a fire vs the risk of a fire.
Gambling on your health shouldn't be allowed in the first place- but before it was mandatory it sort of worked. Just pushed up the average cost of healthcare a bit. Stupid racket. Making it so everyone has insurance completely defeats the purpose- we'd be better off if nobody had it.



posted on Feb, 4 2017 @ 10:29 PM
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originally posted by: DontTreadOnMe
a reply to: Flyingclaydisk

No...I needed that info....obamacare.....the gift that keeps on taking


A lot of people missed this bit when Obamacare was passed...and the implementation was delayed to after this election, purposely.
edit on 2/4/17 by Ameilia because: spelling



posted on Feb, 5 2017 @ 09:25 AM
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a reply to: Ameilia

Yes.....this was one of those gradual changes made to O'care....
And it effects retirees and likely others....certainly a large percentage of the population.



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