I just started with my company about 4 months ago. At my income, I qualify for a $271 tax credit through the marketplace. My employer decided today that I’m now a real employee and when I got my paystub, it had $150 Health Benefit Incentive. I called the marketplace hotline to see what that means for me and the person on the phone said I should just deduct the $150 from the amount of the tax credit I’m using so I don’t get penalized come tax season.
My question is, since this $150 gets taxed currently as part of my regular income, should I tell my employer to just keep it? Am I wrong in thinking that I would be losing money, since I’m paying taxes on this “bonus”? Maybe it wouldn’t make a huge difference monthly but over the course of a year I don’t know.
I’m not sure who to talk to about this because my employer really can’t answer questions. The person I talked to on the phone from the marketplace said they’d never heard of a Health Benefit Incentive.
submitted by /u/elfpower44
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I just started with my company about 4 months ago. At my income, I qualify for a $271 tax credit through the marketplace. My employer decided today that I’m now a real employee and when I got my paystub, it had $150 Health Benefit Incentive. I called the marketplace hotline to see what that means for me and the person on the phone said I should just deduct the $150 from the amount of the tax credit I’m using so I don’t get penalized come tax season. My question is, since this $150 gets taxed currently as part of my regular income, should I tell my employer to just keep it? Am I wrong in thinking that I would be losing money, since I’m paying taxes on this “bonus”? Maybe it wouldn’t make a huge difference monthly but over the course of a year I don’t know. I’m not sure who to talk to about this because my employer really can’t answer questions. The person I talked to on the phone from the marketplace said they’d never heard of a Health Benefit Incentive.
submitted by /u/elfpower44 [link] [comments]Read Morer/HealthInsurance