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Subject:
Pre tax medical insurance premium
Category: Business and Money Asked by: shreem-ga List Price: $2.00 |
Posted:
07 Nov 2005 12:02 PST
Expires: 11 Nov 2005 09:02 PST Question ID: 590199 |
I am a small-business owner. We provide medical insurance to our employees. The employee contribution to the insurance is deducted on a pre -tax basis using a section 125 cafeteria plan. One of our employees does not want to enroll in our medical insurance plan, since he has an individual plan from a different company. The individual plan is cheaper than the company plan. The employee wishes to pay his premiums using pre-tax dollars. Is this possible ? |
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There is no answer at this time. |
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Subject:
Re: Pre tax medical insurance premium
From: dvd72-ga on 07 Nov 2005 20:48 PST |
Simply, NO. The employee cannot use their own health plan for pretax purposes. You have a "master plan" in place. You might want to calculate the difference in the premium amount on a montly basis and calculate how much money in taxes the employee is losing since it would not be considered a pretax plan. Just a suggestion. |
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