Dont remember this before, it asks do u wanna take out our part before or after taxes. Whats the difference?
6 replies (most recent on top)
It’s basically your choice. I used to always select before taxes so my total taxable income would be less after these deductions. Now remember if these are not health plans then you will owe taxes later if you touch your funds like HSA or investment accounts like 401K
they've been doing this for years. its literally for every company with benefits. some people are so stupid it baffles me
In most cases except disability, you want pre-tax. For disability, be aware that if you do go with pre-tax, should you get a benefit payment, it is taxed at income. Therefore after-tax is a better option for that
Yes I asked because it hasnt been on there before or I dont recall! Asked a reasonable question and should of expected a reply like yours!
Jeezus. You don't understand the difference between taking the cost of your benefits out before taxes are taken out of your check or after?
Hint: When you pay your portion of those benefits before any taxes are taken out, you are reducing your taxable gross income (because this is coming off the top before taxes are calculated). This is the right move for the vast majority of people.
It’s your option to have your cost of medical come out before they figure income taxes on your payroll.