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Show 6 Hilltop October 26, 2000 Paycheck increase reflects insurance tax break How do I sign up? by Carolyn Bronson Civilian switch automatically and you should see the payroll increase in your check of Oct. 27. You dont need to fill out a form. You do have a choice, though, to waive premium conversion despite the savings. Employees may change their participation in premium conversion during the annual Federal Employees Health Plan open season enrollment period, Nov. 11, or during the calendar year if you experience a qualifying life event. Qualifying life events include marriage, or a change in a spouses employment. Why would I not want the tax savings? Its possible but extremely unlikely. The potential reasons fall under two headings: Flexibility and Social Secu- - Personnel Division Employees who have Federal Employee Health Benefits premiums withheld from their pay should see an increase in Fridays paycheck from a new premium conversion program that went into effect earlier this month. Premium conversion is a pre-ta- x arrangement, of the that part your salary that goes for meaning health insurance premiums will become This means that you save on Federal income tax and FI CA taxes (Social Security and Medicare taxes). In most cases, youll also save on State income tax. How much? You save a percentage of your premium. If your annual premium is $1,800, and you pay 35 percent in taxes on that amount of salary, you thats $630, or $24.23 save 35 percent of $1,800 two weeks. every Do I have to pay a tax later? No. Dont confuse premium conversion with the deferred taxation of Thrift Savings Flan contributions, which are taxed when you receive the money. 13-De- c. non-taxabl- e. Flexibility: An employee participating in premium conversion generally has all the same flexibility as a person who chooses not to participate. Because of the tax laws, there are two exceptions. If you waive premium conversion you will have the flexibility, without giving any reason whatsoever, either to drop your health insurance altogether or change from a self and family enrollment to self-onl- berg at Ext. The E.N.D. program, specifically designed for teens, builds skills and six-cla- ss on-Nov- 6-- 7 Thursday through Dec. 14, except Thanksgiving Day. Rebecca Fronberg, health educator, from the Health and Wellness Center, will teach the classes. can register by calk Youth ages at or Fron Ext Brandt Karen ing 12-1- 8 19 class. Students learn skills to better communicate, handle stress, make decisions, set goals and eat healthfully and exercise. These skills provide techniques to increase self-awarenes- confidence and self-efficac- y, s. I li t A 1 1 0 r JA their teen years. Contrary to popular opinion, research has shown that young to quit. However, many report a low level of confidence in quitting without help. The E.N.D. program serves to help teens in reducing or stopping tobacco use. The HAWC also offers monthly adult said they started using tobacco in people can get hooked on tobacco within four weeks of the first cigarette even if teens dont smoke every day or only smoke a few cigarettes a day. According to the 1995 Bahr Survey, 61 percent of Utah students who reported using tobacco during the past six months v Sales Chariotjluto Clearfield has moved to 562 '!' roc'V, ! J'f j State, A r ( . t to the military with special financing i i t i a f - We exclusively cater n 1 tobacco cessation classes. Those interested in participating may call Ext. for more information or fill out a registration form at the HAWC. toj . m. In any case, this is a decision only you can make. y. S. owerment i www.opm.gov, or call the BEST system at or their WEB site at: http:www.afpc.ran-dolph.af.mildpcBESTmenu.ht- stated that they tried.to quit smoking that same time. In fact, over 75 percent of adolescent tobacco users would like . tTI L A For more information, check the Internet at Over 75 percent of adults enrolled in the HAWC tobacco cessation program r? i l erally of little or no value compared to the tax savings of premium conversion. Social Security: If you pay Social Security taxes on your salary, then premium conversion may result in somewhat lower Social Security benefits. In rare situations, it may be advantageous to pay full Social Security taxes rather than the lower Social Security taxes you pay under premium conversion. These unusual cases do not involve employees covered by the old Civil Service Retirement System or the CSRS-Offsplan. If you are covered by the Federal Employees Retirement System and you pay no Federal income tax, you may wish to investigate further. program A y. A y, anti-tobac- co the Ending Nicotine Dependence E.N.D. Program, designed to help teens quit using tobacco. knowledge to help reduce or end tobacco . will use. Students dont have to actually be This begin program 2, from p.m. and continues every using tobacco products to enroll in the -- If you are participating in premium conversion, you will be allowed to drop coverage, or change to self-onlonly if your decision to do so comes at the time of a qualifying life event. This flexibility is gen- et rity. Youth Center offers The Hill AFB Youth Center is offering The payroll office will make the i ? available. No Down, No Credit, E-and up when everyone else says NO Chariot says YES! V Come See Us y Is i ( Its everyones responsibility to stop domestic violence. ONE call 801.394.9456 Line 801.392.7273 Cali Crisis TODAY! DOMESTIC VIOLENCE US Sup lemented Your Community Connection y r uxh w of Your Weber Office Office of Justice V, Program, U S Department of Justice Chariot jfluto Sales and Coalition Points of view expressed the author ond not necessarily the official position of the Violence Against Women Office, Department ore (Next to Macey's) of Justice 562 South State, Clearfield A X. t Community Connection, County Domestic Violence vtam by funds received from Violence Against Women those PREVENTION n q4'V -- mu . v e. 7--m (801) 774-619- 5 246007 10 m ru 5 00 57 V |