| Started By | Comment | ||
|---|---|---|---|
 kNA |
Medical/dental benefits |
Lead | |
|
Posts: 7 (08/28/2009 10:02 AM) |
I'm enrolling in my company's health benefits right now and they're asking me:
Do you want to pay for coverage on a before-tax or after-tax basis?Can anyone advise me on which option I should pick? I'm completely clueless when it comes to tax-related things.If it matters, my company also offers Flexible Spending Accounts. |
||
|
Semirhage626 |
|||
|
Posts: 7257 (08/28/2009 10:11 AM) |
I am by no means an expert, but mine are paid for on a pre-tax basis. It means that when figuring out how much I owe in income taxes, they subtract the amount
I spend on healthcare first -- so I don't pay taxes on that money. I don't know what the advantage to an after-tax basis would be.
|
||
|
IdDoJC100Ways |
|||
|
Posts: 27492 (08/28/2009 10:13 AM) |
I always do my benefits pre-tax. It's one of the few ways I have to save money on taxes.
|
||
|
kNA |
|||
|
Posts: 8 (08/28/2009 11:37 AM) |
I thought the same. I just assumed there must be some benefit to the after-tax option and was curious if anyone knew.
|
||
