If you own a small business—as a sole proprietor, perhaps, or with up to several dozen employees—this flexible, tax-free program deserves your careful consideration. It will provide you with business deductions and let you offer your staff (or selected key personnel) an attractive, à la carte benefits plan that supplements their existing insurance.
By setting up an Owner-Operator Benefits Plan, you can self-insure medical and dental expenses that your corporation will administer. After paying for their dental and medical treatments and related expenses, employees submit receipts to your company which then compensates them for the expense, as a tax-free benefit. In return, your company receives a tax deduction for its plan contribution. We’ll be happy to provide further details and discuss administrative requirements for this win-win solution.
For additional information on the Owner-Operator Benefits Program, contact us.