HEALTH CARE WORKER BONUS PROGRAM
Included in the current year New York State budget is a 1.3 billion appropriation in incentives to recruit health care workers. Additionally, some of these funds will pay for bonuses to existing health care workers in recognition of their service during the pandemic. Known as the Health Care Worker Bonus Program, these incentives can be as high as $3,000 per qualifying worker, payable over two vesting periods. Criteria of qualifying workers for the bonus portion includes:
- Those whose income is less than $125,000.
- Those who worked at least 20 hours per week during a vesting period from October 1, 2021, through March 31, 2024.
- Those who work for a qualifying employer. A qualifying employer are those organizations participating in Medicaid with at least one employee, and other providers, facilities, pharmacies and school-based health centers licensed under the state Public Health Law, Mental Hygiene Law, and Education Law, as well as certain programs funded by the Office of Mental Health, Office for the Aging, Office of Addiction Services and Supports, the Office for People With Developmental Disabilities, and the Office of Children and Family Services.
- Those who work under certain job titles. For information about these job titles, use this link: https://health.ny.gov/health_care/medicaid/providers/hwb_program/index.htm#titles
What are the tax implications of these bonuses? The bonuses are considered earned income reportable on a W2 form. It is subject to Federal income taxes. According to FAQs listed on the NYS site, these bonus payments are exempt from NYS and NYC taxes for NYS/NYC residents. For qualifying workers who receive a bonus (i.e., work in NYS) but live in another state, these payments are taxable on their resident state return. CTA may prepare returns of health care workers who receive these bonuses next tax season.
IT BEARS REPEATING
It’s never too late, or too early, to fill out our volunteer application for the next tax season. Just use this link:
CTA Volunteer Application for Our 2022-2023 Tax Season
If you are interested in joining one of our committees, please complete this form:
CTA Committee Selection Form
CTA CALENDAR – NEXT BOARD MEETING
The next meeting of the CTA board is scheduled for Tuesday, September 20, 2022, from 6:30pm to 8:00pm. This meeting will be conducted via ZOOM and here are the passcodes you will need to join us. All are welcome.
Join Zoom Meeting https://us02web.zoom.us/j/83598220429?pwd=emJNS2hVL0ErZCtMdHBXRkVVbnl0QT09
Meeting ID: 835 9822 0429
Dial by your location +1 929 436 2866 US (New York) +1 646 931 3860 US