Is Medical Insurance Premiums Taxable Income?
I've been the bookkeeper at our church since February (so this is the first time I've issued a W-2 for our pastor.)
Our pastor and his family are on Medi-Share (the medical bill paying/sharing program). Our church deposits directly into his checking account each month a check in the amount of his monthly medical "insurance premiums". Then our pastor pays the monthly cost to Medi-Share out of his checking account. Are the payments we are making to him considered income on his W-2? Do we need to report these payments on his W-2? And if so, how is this reported on the W-2?
If these payments are income to him, is there a way he and his family can be on Medi-Share and our church pays the monthly cost but in a way that is not considered income for him?Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!