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Insurance Premium Tax Rate

Carrie Said:

How much does Charlie pay per month for health insurance if his annual premium is $4,000 and his...?

We Answered:

This first hint is to look up rates you do not know, like FICA and Medicare. [Your worker does not exceed the maximum wages for the paying of FICA.] The next hint is to convert everything to a monthly basis. Then set up a spreadsheet [line by line to match your conditions], and plug and chug to do the arithmetic. You did not give any facts for union dues or "other", so they are zero for now. When you get to the bottom you will have net pay.

Dan Said:

HELP! How much does Charlie pay per month for health insurance if his annual premium is $4,000 and his...?

We Answered:

1) I don't understand why you tell us that Charlie has 52 pay periods. the question had to do with how much he pays per month. Maybe you should have mentioned that there are 12 months in a year?
$4000 * 0.20 / 12 = $66.67

2) We need to know what each exemption is worth in your state. You start with $95,000/12 = $7916.67 gross pay
and subtract all those other things to get net pay. But you can't calculate most of them without knowing what state you live in. It is different from state to state.

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