Currently, tax law allows you to deduct ONLY your health insurance premium from your income.
A $6,000 health insurance premium saves you about $900 in taxes.
Unfortunately, because of higher premium costs, a lot of employers have had to reduce their health insurance premium
and increase their deductible and co-pays.
This reduces their tax savings from the health insurance premium.
THIS IS NOT THE CASE IF YOU HAVE A HEALTH REIMBURSEMENT ARRANGEMENT! The HRA allows you to deduct your health insurance premium,
your deductible, your co-pays, your vision expense, your dental expense, over-the-counter drugs, and any other out-of-pocket expense
that has a medical purpose. The average tax savings with a HRA is $2,100.
There are benefits for all types of businesses. Call 231-757-3970, fax to 231-757-9528 or e-mail amaleckas@fbmgt.com and ask about the savings available through the AITA HRA program.