I want to choose my own insurance instead of company sponsored plan. Usually when we elect company sponsored plan the premium on health insurance is tax deducted from the paycheck. But if I choose and pay my own insurance Can I still make tax deducted from each paycheck? or should I apply tax deduction during tax filing?
Insurance - 3 Answers
1 :
You can't payroll deduct if you are paying your premiums on a private insurance plan. The insurance company will be billing you not your company. If you are self-employeed, have 1099 income, you deduct the premiums from your taxes. You have to weigh the pros and cons of each and make an informed decision on which is better for you.
2 :
You need to talk to your employer's payroll dept.
3 :
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