As a small owner business, it is likely that you, your family and your employees are covered by individual policies of insurance. Like your network of physicians, the policy is affordable, and you may even be receiving premium tax credits. At the same time, your company is growing and the issue of health benefits is on the table.
It is at this crossroads where many small businesses are wondering how to provide benefits and let employees keep their current coverage. One solution is to use a medical expense reimbursement plan Section 105. 
Why Health Works Individual Insurance
in 2014, more than 2.7 million small and medium enterprises (with less than 0 employees) offer health insurance with the main reason being the cost ( Source ) . Small employers want to provide health benefits, but they need a more affordable model. This is where the individual health insurance is
individual health insurance is a viable solution because :.
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The premiums are on average affordable coverage for group health insurance
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the guaranteed policies-emission (sick employees can not be diverted), and
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employers can use a Section 105 Plan to reimburse employees for the unsubsidized portion of their premium.
Of course, if you read this article you are probably already familiar with how individual health insurance works for you and your family. The next question is how to use Section 105 plan for individual insurance work sick for your small business.
How to section 105 of the Plan of Works
a plan of Article 105 is simply a tool to reimburse employees tax free for their Medicare expenses. Here's how it works :.
1) The company is implementing a plan of Article 105 to give each eligible employee a fixed health care allowance
2) employees pay for their own health. On average insurance, individual costs 20 to 60 percent less
3) Employees submit proof of their premium costs and are reimbursed by the regime of Article 105 of the cost of the health plan -. Until their health care allowance
Tip - .. most employers use health reimbursement software to ensure compliance and to make the management of reimbursement and easy monitoring
Conclusion
Using individual health insurance as the foundation benefits is a win-win for employers and the employees. Yes, this model benefits is a change in the way employers and employees buy a health insurance coverage, but it is a cost effective way for small employers to offer a contribution to the health of employees.
Related: Insurance Cost Analysis Tool
What questions do you have on individual health insurance or in section 105 plans? Leave a comment below. We will help you to answer.
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