Asked in Cedar Falls, IA | Feb 7, 2015 . However, for group health insurance plans, it is optional for employers to pay for the health insurance coverage of employee dependents. You also can’t deduct health insurance premiums if your employer or the government pays all of your premiums. What other medical costs are tax-deductible? But things aren’t all bad for S corporation shareholders. When setting premiums for employees, employers generally have a great deal of flexibility with this portion of plan design. Find a lawyer near you. Avvo has 97% of all lawyers in the US. However, this is not an option for companies with 20 or more workers that are subject to the Medicare Secondary Payer provisions. In general, however, if your company declares bankruptcy, you will have your health insurance premiums paid … The fact that you’re not entitled to claim employee health insurance as a tax-free fringe benefit when you have an S corporation is not good. ... My employer didn't pay our health insurance pre... Q&A. Health insurance premiums are often eligible for the tax deduction. If you pay health insurance premiums to your company, and the company declares bankruptcy – and so does not actually make the payments to the health insurance company – what happens may depend on the type of bankruptcy filed as well as the specifics of your health plan. Estimates for premiums, worker contributions to premiums, and employer contributions to premiums presented in Section 6 do not include contributions made by the employer to Health … After a decade of moderate growth, premiums for both individuals and families of employer-sponsored health insurance increased by an average of … That said, some employers consider charging employees different premiums and when doing so, questions inevitably come up on whether or not employers can do this. Even if your small business does not owe tax during the year, you can carry the … You can only deduct the premiums that you pay. Our insurance is in danger of being canceled in the next few days and I want to know what my rights are as I found out today I need surgery and now I might not have insurance. My employer didn't pay our health insurance premium for two months. Not what your employer spends for your coverage. All companies, regardless of size, can pay the health insurance or Medicare premiums for their retired employees, but no company can pay for individual health insurance coverage for their active employees. In most cases, employees can still add qualified dependents to their health plan, regardless of whether their employer decides to contribute to dependents’ premiums. An employer can't pay for a plan an employee choses if they have to comply with the employer mandate, but can reimburse a group plan. Understanding the 1095-B Tax Form Because the Affordable Care Act requires all individuals to have health insurance or to pay a tax penalty, employers now send out a 1095-B Tax form. For example, if you pay $50,000 a year toward employees’ health care premiums,and if you qualify for a $10,000 credit each year, you can save $20,000 over the course of two years. They are deducting money from the employees pay, but Lawyer directory. Employer failed to pay premiums My employer failed to pay the premiums on our health insurance, even though he took the money out of our paychecks (employees pay 40%). Personal Deduction for Health Insurance Premiums. Small businesses, while not under the same requirements, are given tax incentives to pay all or a part of their employee health insurance premiums. Of all lawyers in the US subject to the Medicare Secondary Payer provisions employers generally have great. Lawyers in the US of plan design... My employer did n't pay our health insurance of! 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