My employer has been reimbursing my health insurance premiums. I recently found out that this would be considered taxable income. I was wondering whether I can “refund” my employer for some of my health insurance reimbursements (which would reduce my taxable income). If my employer is okay with this, is it okay?
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Not sure if giving back the money to your employer for an employee benefit will be allowed or would be okay with the employer. But it occurs to me--have you done some math? Do you think the amount you would have to pay back to the employer would be less than having that amount of income subject to income tax?
If my employer were agreeable, is this permissible?
Also, the idea would be to submit and receive reimbursements in the next tax year. That is, it would be about timing, not forfeting the reimbursements.
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