Comparison of Post-Tax and Pre-Tax Deductions for Health Insurance and Flexspending Accounts
INDIVIDUAL COVERAGE (claim single; 0 exemptions)
Post-Tax
| Earned Gross | $1,000.00 |
| Taxbl Gross* | 1,000.00 |
| Fed W/H | $94.12 |
| State W/H | $33.74 |
| SS | $62.00 |
| MDCR | $14.50 |
| Net | $795.64 |
| Health | $56.01 |
| Take Home | $739.63 |
Total difference: $13.39
Pre-Tax
| Earned Gross | $1,000.00 |
| Health | $56.01 |
| Taxbl Gross* | $943.99 |
| Fed W/H | $88.01 |
| State W/H | $30.74 |
| SS | $58.53 |
| MDCR | $13.69 |
| Net | $753.02 |
| Take Home | $753.02 |
FAMILY COVERAGE (claim single; 0 exemptions)
Post-Tax
| Earned Gross | $1,000.00 |
| Taxbl Gross* | 1,000.00 |
| Fed W/H | $94.12 |
| State W/H | $33.74 |
| SS | $62.00 |
| MDCR | $14.50 |
| Net | $795.64 |
| Health | $241.79 |
| Take Home | $553.85 |
Total difference: $57.60
Pre-Tax
| Earned Gross | $1,000.00 |
| Health | $241.79 |
| Taxbl Gross* | $758.21 |
| Fed W/H | $67.75 |
| State W/H | $21.01 |
| SS | $47.01 |
| MDCR | $10.99 |
| Net | $611.45 |
| Take Home | $611.45 |
*This is reported to Social Security Administration on employees' W-2 forms at the end of the year. As a result, individuals' Social Security benefit may be somewhat diminished. Go to www.ssa.gov to calculate your SS benefits.