Timeline for Work as a contractor for my current employer rather than become a full time employee after my graduation for health insurance continued coverage
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Sep 8, 2016 at 9:54 | comment | added | dave_thompson_085 | Late but one point on tax: employer-paid health coverage is excluded from pay outright so you don't pay income tax on it and neither you nor employer pays FICA; selfemployed health covereage is deducted (line 29, as stated without itemizing) so you don't pay income tax on that money, but you DO pay SE tax which is equivalent to both halves of FICA. | |
| Dec 30, 2012 at 21:18 | comment | added | sekharan | @stoj: Makes sense. Maybe I should ask a separate question on COBRA, but define "young" keeping my married status into account (young women are more expensive to insure) | |
| Dec 30, 2012 at 14:04 | comment | added | stoj | @sekharan If you are young COBRA plans will almost always be (much) more expensive than comparable individual coverage plans. If you are older they will be more competitive and possibly a better deal. | |
| Dec 29, 2012 at 11:40 | comment | added | littleadv | @sekharan not "by definition", but due to the market conditions. With ACA provisions taking effect gradually, this might change sometime in the future. Re the premiums - yes, it is deducted pre-tax. | |
| Dec 29, 2012 at 7:04 | comment | added | sekharan | Hence, by definition COBRA plans will be cheaper than individually purchased family plans given the same coverage and health provider. Also, premiums I pay to my company for providing me and my family health insurance is deducted pretax from my paycheck? | |
| Dec 29, 2012 at 5:42 | history | answered | mhoran_psprep | CC BY-SA 3.0 |