Bank Of America To Reimburse Gay Employees For Tax Inequality


Hats off to Bank Of America!

Bank of America will soon reimburse gay employees who insure same-sex partners for the extra federal taxes they pay on health coverage.

The program was announced as part of the company’s open enrollment for health, medical and dental insurance this month, and will go into effect next year, said company spokeswoman Ferris Morrison.

For heterosexual married couples, employer-paid health benefits for spouses are nontaxable, and employees can use pre-tax dollars to pay premiums. But for gay couples, the benefits are taxable and premiums must be paid with after-tax money.

The Bank of America program will make up that tax difference.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s