{"id":507,"date":"2016-04-30T00:35:00","date_gmt":"2016-04-30T07:35:00","guid":{"rendered":"http:\/\/hr.uw.edu\/benefits\/?page_id=507"},"modified":"2024-05-01T06:01:03","modified_gmt":"2024-05-01T13:01:03","slug":"waive-a-pretax-deduction-from-your-paycheck","status":"publish","type":"page","link":"https:\/\/hr.uw.edu\/benefits\/more-ways-to-save\/waive-a-pretax-deduction-from-your-paycheck\/","title":{"rendered":"Waive a pretax deduction from your paycheck"},"content":{"rendered":"<p>Pretax deductions from your paycheck reduce your taxable income, which saves you money by reducing the amount of tax you pay. Because of the money saved, this is generally helpful for most people.<\/p>\n<p>However, you can elect to waive a pretax deduction and pay after-tax. You might want to consider waiving a pretax deduction for one of two reasons:<\/p>\n<ul>\n<li><b><b>Social Security:<\/b> <\/b>Pretax deductions reduce the salary used to calculate your Social Security benefit at retirement. The impact on your Social Security, however, is typically minor. Most of the time, the money you save through pretax deductions outweighs any benefit gained by waiving the deduction.<\/li>\n<\/ul>\n<ul>\n<li><b>Unemployment compensation:<\/b> Pretax deductions reduce the salary used to calculate unemployment compensation.<\/li>\n<\/ul>\n<h4>Health insurance premium<\/h4>\n<p>Your health insurance premium is automatically deducted pretax from each paycheck.<\/p>\n<p>Contact <a href=\"https:\/\/employeehelp.workday.uw.edu\/\">Employee Workday Help<\/a> to waive pretax deductions and pay after-tax.<\/p>\n<p>If you\u2019re newly eligible for health insurance, you have 31 days after becoming eligible to submit the form. After that time, you can submit the form only during open enrollment or when a<a href=\"https:\/\/employeehelp.workday.uw.edu\/your-benefits\/maintaining-benefits\/life-events\/\"> qualifying life event<\/a> occurs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can elect to waive pretax payments and pay using after-tax money.<\/p>\n","protected":false},"author":9,"featured_media":0,"parent":1798,"menu_order":70,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"class_list":["post-507","page","type-page","status-publish","format-standard","hentry","search_bucket-page"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Waive a pretax deduction from your paycheck - Benefits<\/title>\n<meta name=\"description\" content=\"Pretax deductions from your paycheck reduce your taxable income, which saves you money by reducing the amount of tax you pay.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hr.uw.edu\/benefits\/more-ways-to-save\/waive-a-pretax-deduction-from-your-paycheck\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Waive a pretax deduction from your paycheck - 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