Wells Fargo Benefits. 1  Health Insurance. Health Insurance (647 comments) âThe best thing about the health coverage was that it was consistent and started on the first day you started workingâ. 2  401K Plan. 401K Plan (556 comments) âyou are able to get loans from 401k at 6% interestâ. 3  Vacation & Paid Time Off.
The premium tax credit is a government subsidy to help make health insurance premiums more affordable for middle and low-income people. The subsidy is only available to people with modified adjusted gross incomes from 100 to 400 percent of federal poverty level.
Premium Conversion is a pre-tax arrangement that allows the part of your salary that goes for health insurance premiums to be non-taxable. This means you save on Federal income tax and FICA taxes (Social Security and Medicare taxes). In most cases, you'll also save on State income tax and local income tax. The payroll office will sign you up for Premium Conversion automatically. You don't need to fill out a form.