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The rising cost of health care has become a barrier to small business owners succeeding in today’s busy marketplace. While there is no method to completely eliminate health care concerns, there is a way to save thousands of tax dollars each year. The Association 105® HRA is a simple, yet effective solution to greatly diminish the barriers created by the high costs of health care. Our clients average $3,800 in tax savings with their enrollment in the program.
With the Association 105® HRA, small business owners who qualify are able to take advantage of tremendous tax savings by deducting up-to 100% of qualifying medical expenses and health insurance premiums. More often than not, small businesses only take the standard deduction offered on Form 1040 for their self-employed health insurance costs. Enrollment in the Association 105® HRA gives employers the opportunity to deduct both their premiums and qualified out-of-pocket expenses on their business tax return.
In addition to the savings, BASE® provides you with peace of mind by making sure that your plan adheres to all current government regulations. During the Employee Medical Expense Report (EMER)
process, all medical expenses are adjudicated to
ensure deductibility as required by law per your
individual plan parameters and under IRS Code § 213.
The Association 105® HRA is the ultimate tool for small businesses with 1-3 employees looking to control the skyrocketing costs of health care. Contact us today to find out how this valuable tax savings plan can start working for you!
NOTE: Insurance regulations may prohibit the reimbursement of health insurance premiums in your state. For additional details, please contact a BASE® Benefit Specialist.
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