Hubby's employment company recently has been sold. The new owners have retained the old company's name and is trying to keep the two companies separate. However, employee benefits (health, 401K, dental, etc) have been merged with the new company.
The new company will allow the hubby to continue paying the prior life insurance premiums (old company) because they do not work that vendor. Hubby's choices are: 1. Continue the old policy and pay the premium after taxes. 2. Purchase life ins with the new company and utilize the pretax benefit, however he must go through a physical. His health condition has changed.
We are not interested in dropping the prior life insurance. Can the new company refuse to pay this prior insurance with pretax dollars?
The new company will allow the hubby to continue paying the prior life insurance premiums (old company) because they do not work that vendor. Hubby's choices are: 1. Continue the old policy and pay the premium after taxes. 2. Purchase life ins with the new company and utilize the pretax benefit, however he must go through a physical. His health condition has changed.
We are not interested in dropping the prior life insurance. Can the new company refuse to pay this prior insurance with pretax dollars?