If you do, will it make you have to pay more in taxes at the end of the year?
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If you elect to have your share of health care premiums paid pretax, your withholding will be tweaked to adjust for this automatically. The difference is instead of making $20,000 at the end of the year, your W-2 will say you made $18,500. This is less income, less tax and generally a good thing. (It does reduce your income for social security purposes, but I haven't seen any persuasive logic that paying for health care post tax now will give you enough extra money in retirement to justify not doing it.)
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