So, walgreens is moving their employees to a healthcare exchange. Walgreens is giving each employee some money to pay for health insurance with.
My question is, would a walgreens employee owe income tax on that? So, if I work for walgreens and they give me $5000 for health insurance, so I owe income tax on that $5000?
If so, I just got a huge tax increase since I don't pay any income tax on my healthcare now.
Sounds about right. The amount of money given is supposed to be the same they provided last year and will probably pay for 1/2 to 2/3 of your healthcare bill depending on the state and plan chosen.