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Health Insurance Costs Going Up Question & Answers

2014 September 24
by Sarah Fields

Steven asks…

When health insurance becomes universal in a sense, should employers raise salaries?

because they will no longer need to pay part of health insurance costs?

Sarah Fields answers:

Sure! But they won’t…the non-producers (executive/investor class) will get a nice bump up, though…

David asks…

Can I reimburse myself health insurance costs from my company?

We used to have individual health insurance, and I would pay for it out of my own company (an S Corp). When we got insurance through my husband’s employer, I stopped reimbursing myself.
He is paid for by the company, and then it costs extra to add myself and our child.

I was just going to deduct health insurance premiums on our Sch A, but we don’t have enough other medical expenses to meet the limit.

Is it ligit to go ahead and reimburse myself the amount that it cost for the health insurance? Then it would be a business expense. Thanks.

Sarah Fields answers:

No.
The insurance through your husband’s employer does not meet the test of having been established through the S-corp.

Richard asks…

What kind of health benefits do you think should come standard in every job?

I’m doing a report on jobs that don’t pay for any of your health insurance costs and I’d like to get some insight on other people’s thoughts and views on the subject.How big of a factor would it be in accepting a job if you got a job offer and they didn’t offer to pay any of your health insurance costs?

Sarah Fields answers:

High Salary then you can afford to buy your own.
Company should offer the minimum such as coverage for annual checkup, emergency care and major illness. You want more coverage then you buy what you need. No reason for a 50 yr old women to pay for maternity and early childhood care nor does a man need coverage for a pap smear.

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