Estimated tax tip savings: A Section 125 healthcare insurance plan for your employees can save you 7.65 percent in payroll taxes for every dollar your employees spend on their premiums. For example, three employees who are contributing $30,000 per year will save you $2,295 annually.

Group health insurance plans for your employees are good business. First, they make your business more competitive when it comes to attracting and retaining good employees. Second, you save payroll taxes on every tax-free dollar your employees pay for premiums. Best of all, Section 125 plans are extremely easy to set up—especially since you can get a broker to do all the legwork with no out-of-pocket costs. What’s not to love?

If you have hesitated to purchase group health insurance because it seems complicated, you must read this article because it takes the guesswork and uncertainty out of the process. Most important, it gives you three practical steps for setting up your own ... Log in to view full article.