Question- So I make slightly under $100k but my benefits cost reflect me making over $100k, how is that possible or allowed? That feels wrong
10 replies (most recent on top)
Total compensation includes costs paid by your employer on your behalf. Print that information so when you go apply for a new job, you can present proof that total comp - including bonus - exceeds your salary. It worked for me. Left Wells just barely at $100K and got a new job making $25K more.
What really gets you is that you are like 1000 over the insurance thresholds but get dinged like you are making 250k so you basically get a pay cut with your just over a 100k or 101k oops now you pay lots more for insurance. Well over the 1000 over the base Health
I still can’t arrive at the total variable compensation. With projected bonus it should be over what they are stating so not sure bonuses for Tech are in that number if so it will be a tiny bonus. It might work for insurance but i think the 401k match exceeded that number but it is a look back and not a projection. I switched jobs this year so it makes it harder to calculate the algebra….no many unknowns
the HSA "lower use" and "narrow network" plans are now the same price as I was paying for the broad network HSA "higher use" 4 years ago and I'm considering switching to worse coverage. I've also opted out of FSA the last 2 years completely. Nice to see the company is punishing us for "growth & development" to negotiate pay increases/job changes with piddly raises and having to downgrade our benefits to keep effective net pay the same.
You are not serious with this question.
Total compensation will show employer contributions to insurance and 401k matching as well.
Yeah, well, some of us worked hard for a long time to get there and don't need to hear it from the peanut gallery. In most parts of the country, $100k/year is a long ways from rich. We ain't exactly flying private jets and sitting court side.
Congratulations, you finally made the 6 figure club. Give me a break. You make more than 3/4 Americans if not more.
Yeah, add the increased deductible / increased copays / less $ from spouse to close the growing doughnut ho-e / prescription copay increases / etc...
Did you make a bonus, if so it is TTC that makes that 100K not just base salary.