Pay health insurance as "raise?"

[Anonymous]

We have been working with a wonderful nanny and she has asked if we can help cover part of the cost of her health insurance in addition to her hourly rate. Does anyone know if it is possible to do this after open season has ended, and if there are any tax implications? Specifically, is the additional cost to me the cost of the health insurance + taxes on that amount I contribute? Thank you for any tips.

[Anonymous]

You might not be able to use the open exchange since she doesn't have a qualifying "change" in status.

SHOP, the small business exchange, would be available to you. That's what I use.

You can also go to e-healthinsurance and see what's available.

As long as you only have one employee, you can still contribute to health insurance tax free. If you go through SHOP, the premium is also tax free.

[Anonymous]

Does you boss pay your health insurance. Premium and tell you it is your raise? No. Stop being so cheap
She is taking care of your child!

[Anonymous]

PP, I would gladly take health insurance over a raise. My premium is $450 a month. That to me would be a huge raise.

[Anonymous]

Anonymous wrote:Does you boss pay your health insurance. Premium and tell you it is your raise? No. Stop being so cheap
She is taking care of your child!

No, my boss doesn't pay for my health insurance. Each paycheck, the premium is deducted. If my employer paid my premium, or a portion thereof, I would not also expect a raise - the money I am saving (going into my pocket) from not paying the premium is essentially a raise anyway.

[Anonymous]

^PP here. I should also note that someone who is unable to comprehend what I explained above is not someone who I would want caring for my child anyway!

[Anonymous]

Anonymous wrote:Does you boss pay your health insurance. Premium and tell you it is your raise? No. Stop being so cheap
She is taking care of your child!

What?? Yes I consider changes to my benefit package to be a raise? Because I'm not an idiot and understand how benefits packages work?

[Anonymous]

My review just happened.

I opted for my health care to be covered vs a raise. Paying for my health care is more than the raise (it was a dollar raise).
My insurance is 375 a month, my 1 raise would have been 40 a week plus other of 15 dollars.

And I added a portion to my updated resume, that no matter the amount of my Healthcare they cover it (up to 800 a month), so next open enrollment if I need to change plans, I can still have good coverage.

[Anonymous]

Anonymous wrote:My review just happened.

I opted for my health care to be covered vs a raise. Paying for my health care is more than the raise (it was a dollar raise).
My insurance is 375 a month, my 1 raise would have been 40 a week plus other of 15 dollars.

And I added a portion to my updated resume, that no matter the amount of my Healthcare they cover it (up to 800 a month), so next open enrollment if I need to change plans, I can still have good coverage.

Wow! This would price you out of a lot of jobs, I would think. $800/mo is like an extra week's pay every month. Good on you if you can get it, though.

[Anonymous]

Yea this is a great thing to do because she won't be taxed on the income you pay for her health insurance. You will get great tax credits as well. When boss pays premiums it's not taxable income. Win/Win

[Anonymous]

Anonymous wrote:

Anonymous wrote:My review just happened.

I opted for my health care to be covered vs a raise. Paying for my health care is more than the raise (it was a dollar raise).
My insurance is 375 a month, my 1 raise would have been 40 a week plus other of 15 dollars.

And I added a portion to my updated resume, that no matter the amount of my Healthcare they cover it (up to 800 a month), so next open enrollment if I need to change plans, I can still have good coverage.

Wow! This would price you out of a lot of jobs, I would think. $800/mo is like an extra week's pay every month. Good on you if you can get it, though.

I added to my existing contact, with the family I am with and will be with for many years. I take my job as long term.

I added the portion because I wanted a cap, for the parents sake. I could easily get the top health coverage and they would have to pay it. My bosses will continue to cover my health insurance for as long as I'm working for them, and I get to pick what health insurance and at what level. Next year, when my contract is up for review, I will get the raise and they will still cover my health insurance. So it's a win for me.

And trust me at my rate, I price myself out of a lot of jobs, but I know my worth and I have never been out of a job, nor have I gone weeks or months waiting on a job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My review just happened.

I opted for my health care to be covered vs a raise. Paying for my health care is more than the raise (it was a dollar raise).
My insurance is 375 a month, my 1 raise would have been 40 a week plus other of 15 dollars.

And I added a portion to my updated resume, that no matter the amount of my Healthcare they cover it (up to 800 a month), so next open enrollment if I need to change plans, I can still have good coverage.

Wow! This would price you out of a lot of jobs, I would think. $800/mo is like an extra week's pay every month. Good on you if you can get it, though.

I added to my existing contact, with the family I am with and will be with for many years. I take my job as long term.

I added the portion because I wanted a cap, for the parents sake. I could easily get the top health coverage and they would have to pay it. My bosses will continue to cover my health insurance for as long as I'm working for them, and I get to pick what health insurance and at what level. Next year, when my contract is up for review, I will get the raise and they will still cover my health insurance. So it's a win for me.

And trust me at my rate, I price myself out of a lot of jobs, but I know my worth and I have never been out of a job, nor have I gone weeks or months waiting on a job.

I think I see my mistake, I said updated resume, I meant updated contract. I can see the confuse on that.

I would never ask for my health insurance to be paid. Has it always? About 80% of the time.