Hi there! I am looking for some advice. I am beginning a new job soon with a company that is small and does not provide health insurance directly. They are having me go to the marketplace in my state and purchase it directly.
They are willing to give financially to me though. I have two options:
1) Their contribution amount can be placed in an HSA per month, but per HSA/ACA guidelines I understand I cannot use this to pay the premium for my plan. This of course would be tax-free/tax deferred.
2) They can give me the same amount as ‘other’ income – which would of course be taxed up front. I believe in this case I would be able to use the net amount to pay towards the premium cost. Would this be true?
While it is not absolutely, 100% vital that I not pay for the premium out of pocket, I think it would be helpful.
I am just looking for guidance to determine the best route/course of action from all perspectives (taxes, overall cost, etc.)
Any advice would be appreciated.
submitted by /u/heartsasmagnets
[link] [comments]
Hi there! I am looking for some advice. I am beginning a new job soon with a company that is small and does not provide health insurance directly. They are having me go to the marketplace in my state and purchase it directly. They are willing to give financially to me though. I have two options: 1) Their contribution amount can be placed in an HSA per month, but per HSA/ACA guidelines I understand I cannot use this to pay the premium for my plan. This of course would be tax-free/tax deferred. 2) They can give me the same amount as ‘other’ income – which would of course be taxed up front. I believe in this case I would be able to use the net amount to pay towards the premium cost. Would this be true? While it is not absolutely, 100% vital that I not pay for the premium out of pocket, I think it would be helpful. I am just looking for guidance to determine the best route/course of action from all perspectives (taxes, overall cost, etc.) Any advice would be appreciated.
submitted by /u/heartsasmagnets [link] [comments]Read Morer/HealthInsurance