The costs health insurance is one of the? biggest stressors of running a small business. 
Although most employers expect health insurance costs to go up every year, many are turning to individual health insurance funded by employers models that enable companies to predict and control costs from the beginning by providing duty-dollars to employee personal insurance. These plans offer unique advantages to both employees and employers, but can he still do it? Yes. As the health plan meets the new regulations established by the Affordable Care Act, employers can still provide dollars in tax-free personal insurance of employees using a repayment plan compliant healthcare.
Benefits Tax Free your employees
individual health insurance plans purchased on the stock exchange are significantly cheaper than the group plans typically offered by companies to their employees. So should not there be a way for companies to tap into the stock market without sacrificing an employer contribution to health care?
With individual insurance model funded by the employer, compensation is fixed, and the money spent on health insurance each month is repaid by payroll for the individual. Using a Section 105 compliant repayment plan health care, reimbursements are now tax deductible and received tax free by employees. This allows employees to create and customize their own insurance plans while benefiting from a favorable tax benefit of society. It is a win-win for employers and employees.
Another advantage of these plans is that employees are allowed to tap into tax credits from the federal government for the purchase of insurance. This allows savings in additional costs for both entities -. Put money in the pockets of your employees and reduce your overall costs
Although the decrease of costs and benefits to employers are unique and valuable, the main benefits come to your employees by:
- custom, individualized health plans, they can choose themselves
- tax-free savings on insurance plans
- credits of federal tax each year
Conclusion
small business owners are able to provide tax-free dollars in personal insurance employee using a compliant repayment plan of formal healthcare. This is important because employers using reimbursement or payment arrangements can not comply face stiff penalties this year. Cost control regarding health insurance is one of the biggest challenges small businesses face, and new individual health insurance models funded by the employer are revolutionizing the world of benefits .
has your company benefited from the tax provision -Free dollars in personal insurance of employees? Leave a comment below.
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