I work for a very small company (5-7 people) which can not afford group medical insurance. However one of the unwritten perks is the company will pay 75% of an indiviual policy.
The company does NOT pay this directly to the carrier, but instead cuts a check monthly to the employee after the employee presents the bill.
Obviously the employee can do whatever they want with this check.
My question is since this is handled in this manner should it be considered comopensation in addition to wages and shown on W2's and taxed?
Also if on unemployment, or as in our case, on a workshare program with the state, should this money be declared as other compensation/income. This is a specifically asked question on the forms.
Thanks, Lynda
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Lynda