Paying for
your HSA-qualified health insurance plan through an HRA can save you $3,000
or more every year. In fact, we guarantee your HRA will save you money,
or it costs you nothing.
A
health reimbursement arrangement, or HRA, enables self-employed individuals
to reimburse medical expenses, including health insurance premiums, from the
business as a tax-free fringe benefit. Instead of taking a deduction for
health insurance on your IRS form 1040, you can now count it as a business expense
on your schedule C!
Section
105 is the part of the IRS code that establishes the rules for HRAs. While
larger companies have used HRAs for years as a way to manage their healthcare
expenses, smaller companies and self-employed individuals have often been intimidated
by the rules and paperwork involved in setting this up. Our national
devision HSA for America is proud
to provide a simple an inexpensive solution that will make the process very
easy and enable the "little guy" to take advantage of this important
tax break. Visit their Health
Reimbursement page for more information.
HRAs
are available to C-corps, S-corps, and Schedule C sole proprietors whose spouses
could work for the business. If you are self-employed, learn how an HRA
can work for you by the report Section
105 HRA Plans For The Self-Employed.
Small
business owners with employees can also benefit by establishing an HRA.
Through an HRA you can reimburse your employees for individual health
insurance premiums, which typically costs less than half of what group coverage
does. Read the report 105
HRA Plans for Small Business Owners to learn how you can cut your health
insurance costs in half, while providing your employees with permanent coverage
that is not tied down to their employment.
