Estimated tax tip savings. Reimburse your employees for dental and vision expenses without paying for group insurance and without facing the $100-per-day Obamacare penalties.
If you used to provide a Section 105 plan to your employees to reimburse medical expenses, you know how wonderful these plans are—they are the simplest and most cost-effective medical plans available for your business.
But you may also know that Obamacare imposes big penalties on your Section 105 plan if
1.
you have more than one employee who is eligible to participate in the plan, and
2.
you don’t also offer group health insurance.
Fortunately, if you fall into this no-go zone, you should know there’s a big loophole—or exception—that you can use to continue offering a Section 105 plan to your employees. If you limit the scope of your Section 105 plan so that it covers only “excepted benefits” such as dental and vision, you do not have to meet the Obamacare rules or risk the penalties.
The best news yet? You’ll love how easy and inexpensive it is to implement one of these limited-scope Section 105 plans using the free template we provide ... Log in to view full article.