Employer-Paid Health Insurance Benefits
By the end of 2017, the U.S. federal government had spent $221 billion as tax provision for health insurance benefits employers pay for. If may not seem like a big deal because you still had to get some cash out of your pocket to be insured, right?
Well, that’s true, but you aren’t taxed for your health insurance – which means that you don’t have to claim their value as income. AS the tax code explains, employer-paid health benefits are not taxable income to the recipient.
