If you are covered under the State of Wisconsin Group Health Insurance program, you are eligible for a financial incentive to complete biometric testing and health risk assessment. You can learn more information about the benefits available to your by accessing wellwisconsin.wi.gov.
Per guidance from the federal government and the Internal Revenue Service (IRS), these benefits are classified as taxable fringe benefits. This means that any financial incentive you receive from the program is taxable income for state and federal tax purposes.
What this means for you:
- Financial incentives will be reported as taxable wages and will be subject to applicable withholdings and taxes. You will see withholdings for all incentives issued so far in the current calendar year reflected on your October 1st paycheck. This will include incentives issued to your eligible family members.
- Withholding will include 7.65% for Social Security and Medicare and may include withholding for federal and state taxes, depending on the number of exemptions you claim on your W4.
- A new earnings code has been created to help distinguish the health wellness taxable fringe from other taxable fringe amounts. This taxable income pay line wil be processed with the code: XHM (Tax Fr-Health/Wellness)
Please contact Human Resources at x2390 or hr@uwgb.edu if you have any questions.