I'm going to phony up some of the numbers to try to make this easy. Let's imagine instead that you received the $11000 (plus) as ordinary income. Between you and the employer, payroll taxes (SS + M) would have been paid to the tune of approximately 15% (half by you, half by the employer). That tax starts at dollar one, and at least the M part has no cap, altho if you are highly paid enough, the SS would be capped. But if you make that much money, nobody is going to sympathize with your But It's a Chevy Tax argument anyway, so you may depart from this conversation now.
That tax would have been $1650.
And we have not even entered into the possibility that you maybe owe some state, local or Federal income tax money on these dollars.
Someone needs to explain to me _why_ 40% over the threshhold is taxing higher than would have been taxed in a received-no-health-care-just-cash-direct-d