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Next few days, presenting group options to my potential 6 member employer group. One employee has custody of 2 kids, and could get a Healthcare.gov tax credit that would save about $100 per month based on premium comps without tax savings from pre-tax Section 125 Premium Only Plan.
I think it's marginal tax rate + FICA 7.5%, but not sure sequence to calculate.
In my rough estimate, it looks like close to a wash for that employee, considering the his net total premium cost after tax savings. Also, the group coverage will be better than my comp of lowest cost Cat plan on Marketplace for the 2 kids.
I am looking at a carrier calculated composite rate for employees and employer paying a flat rate per EE. That controls his cost and doesn't rule out older EE's.
I also need to mention the savings on payroll taxes to the ER.
I think it's marginal tax rate + FICA 7.5%, but not sure sequence to calculate.
In my rough estimate, it looks like close to a wash for that employee, considering the his net total premium cost after tax savings. Also, the group coverage will be better than my comp of lowest cost Cat plan on Marketplace for the 2 kids.
I am looking at a carrier calculated composite rate for employees and employer paying a flat rate per EE. That controls his cost and doesn't rule out older EE's.
I also need to mention the savings on payroll taxes to the ER.
