If you operate your business as an S corporation, you continue to enjoy good news in 2023 when it comes to your health insurance.

In this article, we give you the ins and outs of what you need to do with your S corporation to ensure your health insurance deductions and also avoid the $100-a-day penalties for violating the rules of the Affordable Care Act.

Good News

The good news is that the old rules still apply.

Step 1. Get the cost of the health insurance on the S corporation’s books. You can do this in one of two ways:1

Direct payment. The S corporation can make the premium payments directly to the insurance company for the accident and health insurance policy that covers the owner-employee who has more than 2 percent ownership (and ... Log in to view full article.