04:31 Minute Executive Summary:

1 Employee or Spouse Section 105 HRA Plans Survive Obamacare (video)

Section 105 HRA plans are designed specifically for small business owners that can legitimately hire their spouse or has only one employee eligible for benefits. Because the spouse/or employee can be reimbursed tax-free for family health insurance and medical expenses, the employer indirectly benefits as well, as a dependent of the spouse/employee or as a tax deductible expense to the business and employee.

This type of plan is made possible by Section 105 of the Internal Revenue Code, Revenue Ruling 71-588, and IRS Letter Ruling 9409006. The Section 105 Spouse HRA plan converts 100% of health insurance, (including individual health insurance post-ACA), and all allowable medical expenses outlined in IRS 213(d) to a tax-deductible business expense. This saves thousands in taxes that would still be owed by just itemizing deductions on the tax return.

Because the Affordable Care Act (ACA) made the $2 million annual/lifetime benefit requirement for plans with 2 or more employees, all one person HRA plans survived this new ACA/ObamaCare regulation, and are still a viable benefit option. What does this mean for many intelligent, self-employed business owners, or potential new small business owners? Establish a Section 105 HRA through Core Documents and reimburse your insurance premium and out-of-pocket medical, dental, and vision expenses and save thousands of dollars you couldn’t deduct otherwise.

Don’t be fooled by recently established imitators charging higher annual subscription plan document prices and exorbitant monthly per employee administration fees. Subscription service means you have to buy the HRA plan document every year whether you amend it or not. It comes with a built-in expiration date. You’re basically renting the plan document. It will take you years to quantify that this is not the most cost effective way to maintain a compliant plan document. Also, don’t get fooled into paying exorbitant per employee fees for administration.

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“In a post-ACA health insurance America, everyone burdened by this “tax” should consider starting a small business to take advantage of the Section 105 HRA tax deduction.”

Gene C. Ennis

The President of Core Documents, Gene C. Ennis has held:

• Certification in Flexible Compensation, (CFC) by the Employers Council on Flexible Compensation,
• a 218 Life and Health Insurance license offering Section 125 plans since 1989,
• a Third Party Administrator’s (TPA) license administering ERISA self-funded health and welfare plans,
• a Professional Employer Organization (PEO) license with co-employer responsibility for 500 work site employees, and,
• a PEO Controlling Person’s license.

Core Documents retains the services of several ERISA Benefit Attorneys for up to the minute commentary on issues affecting plan document language and administration. Our plan documents have been thoroughly reviewed by numerous CPAs and law firms who have found them to be clear, concise, compliant and cost effective.

Core Documents has been providing Section 105 HRA plans for small business owners since 1997. They would be happy to assist you in establishing your own small self-funded Section 105 Spouse HRA plan document and administrative kit for only $199. Call us today at 1-888-755-3373 and talk to a Plan Consultant about how we can assist you and reduce 2014 income tax liability.

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https://www.coredocuments.com https://www.Core105.com