Paying for Healthcare for employees is a way to increase effective compensation while reducing tax burden. By paying for health insurance the company doesn’t have to pay payroll taxes for that amount, and it’s a business expense that can reduce income tax burdens.
LengAwaits@lemmy.world 5 weeks ago
Wow! Companies could sure save a lot of money if they lobbied for single-payer! I wonder why they don’t! 🤔
ryathal@sh.itjust.works 5 weeks ago
Paying for Healthcare for employees is a way to increase effective compensation while reducing tax burden. By paying for health insurance the company doesn’t have to pay payroll taxes for that amount, and it’s a business expense that can reduce income tax burdens.
LengAwaits@lemmy.world 5 weeks ago
Please forgive my ignorance on the topic. You seem to know a lot about it. Are you saying that they save more money than the insurance costs them?
ryathal@sh.itjust.works 5 weeks ago
They don’t save more than the cost, but it’s cheaper to pay someone 50k salary + 30k benefits than 80k salary.
Maeve@kbin.social 5 weeks ago
Don't you go givin folks ideas, now, whippersnapper!