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banjois
Joined: 14 Nov 2009
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 Posted: Wed Oct 10, 2012 12:26 am Post subject: "Year-end Health Insurance" deduction |
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| I've been at the same hagwon for two + years, and on my cheque today there was a 100 k deduction for "year-end health insurance", on top of my usual monthly deduction. I was too tired to stick around and get a garbled explanation from management. Anybody have any experience with this? |
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valkerie
Joined: 02 Mar 2007
Location: Busan
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| Posted: Wed Oct 10, 2012 1:08 am Post subject: |
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| It's legit. Has happened to me in every job here, whether hogwon, public school or university. |
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banjois
Joined: 14 Nov 2009
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| Posted: Wed Oct 10, 2012 1:42 am Post subject: |
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| But, curiously, my coworker who makes slightly more than me only had to pay 10,000. How is all of this calculated? |
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Alaskaman
Joined: 22 Sep 2009
Location: Bundang-Gu, South Korea
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| Posted: Wed Oct 10, 2012 11:41 pm Post subject: |
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| I think something about deductions also takes this into the calculation. So if they are married, have children or have spent money on credit cards versus paying cash without the cash savers card could all have lead to a difference in the amount of end of year money that is due. Just a thought. Does anyone else have an idea or opinion? |
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banjois
Joined: 14 Nov 2009
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| Posted: Thu Oct 11, 2012 2:19 am Post subject: |
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| Is this connected to taxation issues? Even so, my friend didn't have any deductions I don't have. Management is looking into it. My only medical expense this year was a week of antibiotics, which didn't even involve a covered doctor's visit.... |
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newb
Joined: 27 Aug 2012
Location: Korea
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| Posted: Thu Oct 11, 2012 2:26 am Post subject: |
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| Alaskaman wrote: |
| I think something about deductions also takes this into the calculation. So if they are married, have children or have spent money on credit cards versus paying cash without the cash savers card could all have lead to a difference in the amount of end of year money that is due. Just a thought. Does anyone else have an idea or opinion? |
You're talking about two different beast here.
Yes, for taxation purpose, you can deduct those things as you mentioned.
For health insurance premium, those deductables doesn't account for anything because the premium rate is based on your gross income. |
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