Health Benefits Tax Savings
Calculator for Employees
Discover the Tax Savings Advantages of Participating
in Your Employer-Sponsored Health Plan!
Participating in your employers health
insurance benefit is a TAX
- Your contributions to your employer-sponsored
health insurance plan are made on a pre-tax basis through payroll deductions.
You are taxed on fewer wages, so you have fewer taxes taken out of your
paycheck. This savings helps to reduce the costs of your contribution to your
health insurance and makes it more affordable.
Do you need health insurance?
- Costly medical expenses. In 2004,
the average out-of-pocket medical expense incurred by an uninsured individual
was $2,574 (after taxes) for a family.
- Financial security. Regardless of
age, if you or a member of your family is uninsured and has an accident, a
hospital stay, or a costly medical treatment, the resulting medical bills can
affect your short-term and long-term economic stability.
- Peace of mind. Having health
insurance will help you and your family stay healthy and protects you
Use the Health Benefits Tax Savings Calculator for
Employees to easily learn about the TAX SAVINGS ADVANTAGES of participating in your
companys health plan benefit.