Benefit Programs
Imputed Income Tables--Fair Market Value
for Non-Tax Dependents
The Fair Market Value (FMV) of insurance coverage
provided for an individual who does not qualify as a dependent under
Internal Revenue Code (IRC) Section 152, (for example, domestic
partners and certain dependents to age 27) is taxable for employees.
Therefore, the FMV of the health insurance benefit must be added
to an employee’s earnings as imputed income.
The monthly imputed income amounts vary by health
plan and are provided for either 1 non-tax dependent, or 2 or more
non-tax dependents. These dollar amounts will be adjusted annually.
Employees who are unsure if a person can be claimed as a dependent
should consult IRS Publication 501 or a tax advisor.
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