Medical Reimbursement Plan
Health Expense Reimbursement Employee Benefit Plan
The rising cost of health care has become a barrier to home business owners succeeding in today's busy marketplace. While there is no method to completely eliminate health care concerns, there is a way to save thousands of tax dollars each year. Health Expense Reimbursement Employee Benefit Plan is a simple, yet effective solution to greatly help you diminish the high costs of health care. The average home-based business owner can save THOUSANDS of dollars each year with this one tax break alone.
Here's how it works. The home-business owner employs his or her spouse to work in the home-based business. Once the spouse is an employee, the employer can give the employee an Employee Benefit, which is called “Health Expense Reimbursement Employee Benefit Plan.”
With this Employee Benefit Plan, home-based business owners who qualify can reimburse the employee (spouse), and members of his/her immediate family (you and the kids) for 100% of qualifying non-reimbursed medical expenses and health insurance premiums. More often than not, home-based businesses only take the standard deduction offered on Form 1040 for their self-employed health insurance costs.
