Indeks

Your Paycheck Next Year Will Be Affected by Inflation. Here’s How.

Employers surveyed by WTW expect health benefit costs to rise at least 6 percent next year, and to continue going up for several years because health care providers typically sign multiyear contracts with health insurers.

“It’s not over after this year,” Dr. Levin-Scherz said.

More than half of Americans get health coverage through an employer. Workers on average pay more than a quarter of the total premium for family health coverage, while employers pay the rest. Employers may shift more of that cost to workers — but probably not all of it, since recruiting and retaining staff remain challenging.

“I’m advising my employer clients to eat the health care costs,” said Allen J. Reynolds, a tax adviser in Sioux City, Iowa. Workers are already struggling to manage costs, he said, including higher mortgage rates, which make it difficult to buy a home: “The employee is getting hit from all different angles.”

The contribution limit for 401(k)s will increase next year to $22,500 from $20,500 this year, the I.R.S. announced on Friday. (Extra contributions for workers 50 and older will also increase, to $7,500 from $6,500 this year.) These contributions are deducted from your paycheck — but they go into accounts to help you fund your retirement, and employers often match them to encourage saving.

Inflation has increased those amounts as well. If you have a flexible health spending account, which employees contribute to pretax to help cover medical costs, you can contribute an extra $200 next year. The limit for 2023 rose to $3,050 from $2,850 this year, the I.R.S. announced this week.

If you have a health savings account, a different type of tax-favored account available with certain high-deductible health insurance plans, you can contribute $3,850 as an individual and $7,750 for family coverage next year. (Extra contributions for people over 55 remain capped at $1,000.)

With so many variables, it makes sense to check your withholdings early next year to make sure they are not too high or too low, especially if you have had a life change, like getting married or having a baby, Mr. Reynolds said. If you overpay, you’ll get a refund at tax time. If you underpay, you may owe a penalty.

The I.R.S. offers an online withholding estimator to help you make the calculations. You can make changes by submitting a revised W-4 form to your employer.

Sumber: www.nytimes.com

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