Taxable benefit appears as income on pay stub

PeopleSoft 8.60; Image 46

Our employer offers our employees pretax medical insurance, basic employee medical cost $383.90. If an employee has elected medical insurance, the employer gives the employee a taxable payment in the amount of our basic employee medical, $383.90, to offset the cost of the employee’s medical insurance each pay period (24); the employer pays for the employee’s basic medical insurance and the employee has zero out-of-pocket cost. Our employer offers other tiers to the medical insurance as well as various other insurances and other taxable benefits to help offset the cost of the insurances, depending on the employee’s elections.