1 If your health insurance premiums are paid entirely by your employer or the government, you cannot deduct the cost. 2  If you have health insurance through your employer and your share of the premium is deducted from your paycheck pre-tax, you cannot deduct the cost because the premiums were tax-free already.
For example, an employee earning minimum wage and working a full 40 hours per week currently takes home a gross pay of $290 per week. In theory, a $1.75 minimum-wage hike would increase that employeeâs gross pay to $360 per week. However, thatâs only if that employee continues to work 40 hours per week, a scenario that will become increasingly less realistic under Obamacare, which gives employers a huge incentive to cut worker hours.
But with a standard 'full time' job at Â£6.50 per hour, Â£13'500 is your annual wage. 52 Weeks a year, 40 hours a week. Last edited by Tillybop; 18-01-2015 at 18:18. It doesn't work that way when translating an hourly wage to annual salary. When you get a job offer with a salary, it'll be with your obligated hours.