Is it possible to deduct your health insurance premium for purposes of calculating Social Security and Medicare taxes?
I’m aware that this is kosher for employee contributions to an HSA account provided they’re pulled directly from the paycheck, but I’ve never seen anything about this also working for the premiums of the HDHP.
When I try to hand-check my paystub, the only way I can get the math to work is if I deduct both my HSA contribution and the HDHP premium. My HR representative says that’s how it works, but I feel like I would have heard about this before if that were the case.
Am I just missing something? Are there special and/or circumstances that might apply in my case? Or is our payroll company just making a mistake? The difference will come to about $100 by the end of the year which I assume would simply be accounted for in our annual tax filing, so not a huge deal, but I’d still like to know what’s going on.
Thanks.