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Yes, employer-paid health benefits are generally not taxable for employees in 2016.

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5mo ago

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The 401k employer match limit for the year 2016 was 18,000.


Has taxable income of 10000 in 2016 but no health insurance She will have to pay a tax penalty of?

No penalty, as $10,000 is below the Federal Poverty Level for 1 individual, and thus, the person automatically qualifies for Medicaid from their state, and thus, has coverage. The Federal Poverty Level in 2016 will be about $13k for 1 person. In the states with expanded Medicaid coverage (138% of FPL), the person would qualify for Medicaid up to about $17k. Also, note the qualification standard is based on Adjusted Gross Income, NOT Taxable income, which are different. Taxable Income is AGI minus all deductions. So, pedantically, a $10k Taxable Income likely has a higher Adjusted Gross income just enough bigger to go over the $13k limit, so they'd have to pay the $695 penalty for no healthcare coverage in 2016.


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The tax penalty for not having health insurance in 2016 was 695 per adult or 2.5 of household income, whichever was higher.


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To avoid the health insurance penalty in 2016, you can either have qualifying health coverage throughout the year or qualify for an exemption based on certain circumstances, such as financial hardship or religious beliefs.


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Is Will Smith still alive in 2016?

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