Small Business Owner
In taking care of your insurance needs, you can also take care of your business. If you’re self-employed or are an employee of your own business, health and dental premiums may be a non-taxable benefit and a tax deductible expense. Self-employed people who want health coverage that extends beyond their government health insurance plan may deduct their supplemental health coverage premiums from their business income. When you add up the potential tax savings, your plan could virtually pay for itself!
In addition, providing an attractive benefit plan to your employees will also assist you with employee retention. Plan options are flexible allowing employees to select benefits according to their individual needs. Having your employees participate in an individual Health & Dental Plan may prevent poor claims experience typically associated with stand-alone small business coverage. Implementation is fast and easy!
The above is for illustrative purposes only and is not meant to be representative of every situation. You should seek the advice of a professional to determine your eligibility for tax deductions.
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