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Showing results for tags 'fringe benefits'.
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A plan sponsor provides pet insurance to it's employees as a benefit. The employer pays the premiums and the employees are taxed on them. Their plan excludes "Fringe Benefits" from the definition of plan compensation. Does anyone know if this "income" should be excluded form plan comp or included in plan comp?
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Our local monolithic BCBS bureaucracy offers participants in its clients' self-insured health plans the ability to receive rewards for participating in certain participatory "wellness" activities in the form of cash reimbursements. For instance, if a participant joins a gym and documents that it completed X number of workouts, BCBS will reimburse a portion of the gym membership fee. This reimbursement is a taxable fringe benefit under the Code. As such, each employee must include it in gross income and the employer must properly withhold the amounts and report the amount on the employee's Form W-2 BCBS appears to be, thus far, unwilling and/or unable to provide its clients with information about these reimbursements to permit the clients to comply with its reporting obligation. There does not seem to be a legal obligation on BCBS to provide the information. I understand the risk of liability is relatively low here but has anyone come across this situation and, if so, how did you address it? Thanks!
