If Money Can Be Saved Then Go For It With An Affordable health Plan

Are Health Insurance Premiums Pre-tax - If Money Can Be Saved Then Go For It With An Affordable health Plan

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When it comes to affordable health plans there is one way to maximize your benefits and minimize your costs. There verily is a way for you as a firm owner to own your own health benefit plan and deduct your curative costs from your firm income. This is a 100% deduction, which cuts out the guarnatee fellowships who behalf from your premiums. Your health care is taken care of and you are reimbursed straight through your company. It verily is that simple. You will also be able to furnish your employees with classic curative care without the limitations of an guarnatee firm and no premiums to pay. You set the limits and reimburse their costs.

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Are Health Insurance Premiums Pre-tax

You would be amazed at what you can charge with this affordable health plan. On the curative side there is hospital bills, dietician, laser eye surgery, pacemaker, insulin, osteopaths, wheelchairs, and more. In alternative health there is massage therapy, chiropractors, eye exams, physicians, prescriptions, acupuncture, hydrotherapy, and more. Your health care, and the health care of your family, can be paid with what is called pre-tax dollars, and that means you will be reducing your taxable revenue and will pay less to the government. Having a private health guarnatee plan is a win-win situation.

What might be helpful to know are things that are not thought about curative expenses. In order for your affordable health plan to work properly you will need to know what is eligible and not eligible to claim as a curative expense. Some of these are athletic or fitness club fees; birth control devices that are non-prescription; blood pressure monitors; cosmetic surgery like liposuction, hair change or teeth whitening; diaper services; health programs; organic food; vitamins, supplements, over the counter medications; personal response systems and your provincial curative health plan.

One of the great things about this affordable health plan that you can give your employees is that they do not have to pay any tax on this benefit. This is a non-taxable benefit for the employee. No Ei, Cpp or revenue Tax for the employee, that means no Ei and Cpp for you, the Employer. curative and dental expenses are tax free to the personel receiving them. Someone else great thing is that when you deduct your curative expenses as a firm it initially comes off the top, which means that you will immediately be able to lower your taxable revenue so you save the higher tax rate. For a Corporation, this means you can draw less from the firm also lowering your personal taxable income. If you are interested in saving money, you will want to take the time to check out your options for an affordable health plan.

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