And
save thousands in taxes every year, guaranteed!
Paying
for your HSA-qualified health insurance plan through
an HRA can save you $3,000 or more every year.
In fact, we guarantee your HRA will save you money,
or it costs you nothing.
A
health reimbursement arrangement, or HRA, enables
self-employed individuals to reimburse medical expenses,
including health insurance premiums, from the business
as a tax-free fringe benefit. Instead of taking
a deduction for health insurance on your IRS form
1040, you can now count it as a business expense on
your schedule C!
HRAs
are available to C-corps, S-corps, and Schedule C
sole proprietors whose spouses could work for the
business. If you are self-employed, learn how
an HRA can work for you by requesting a copy of our
special report, Section
105 HRA Plans For The Self-Employed.
Small
business owners with employees can also benefit by
establishing an HRA. Through an HRA you can
reimburse your employees for individual health
insurance premiums, which typically costs less than
half of what group coverage does. To learn more
about using an HRA in this way, request a copy of
105 HRA Plans for
Small Business Owners.
Section
105 is the part of the IRS code that establishes the
rules for HRAs. While larger companies have
used HRAs for years as a way to manage their healthcare
expenses, smaller companies and self-employed individuals
have often been intimidated by the rules and paperwork
involved in setting this up. HSA
for America is proud to provide
a simple an inexpensive solution that will make the
process very easy and enable the "little guy"
to take advantage of this important tax break.
How
to Establish Your HRA
HRAs
are simple to set up, and a cinch to administer.
In fact, we've done almost all the work for you.
Using our online
application, you can set up your HRA in about
10 minutes. When we get your information, one
of our HRA advisors will review it for completeness,
and set up the required paperwork - including an Employer/Employee
Agreement, your Plan Document, and your Summary Plan
Description.
If
you are setting up the HRA for your family, there
will be some questions that will establish an employer/employee
agreement between you and your spouse. This
will include general duties and the number of hours
he or she works per week.
It
will also ask you some questions to determine Eligibility
Requirements. So, for instance, you could exclude
employees that are under a certain age, work less
than a specific number of hours per week, work less
than 7 months a year, or have been with the company
for less than a specific number of months.
You
will then select which benefits the plan will reimburse.
A list will be presented where you can check off which
items you want to cover, including health insurance
premiums, long-term care premiums, and out-of-pocket
expenses.
Within
24 hours of submitting your application, you will
receive all form documents, and a login where you
can keep track of reimbursed expenses. At the
end of each year you will complete your annual submission
notification. We will then prepare an Annual
Benefit Statement, which shows the total of your tax-free
benefits for the year. This can then be handed
to your CPA for tax filing.
Set
Up Your HRA Today
Because
we have automated the process, the cost to set this
up has been reduced to a one time payment of only
$297. If you are setting up an HRA for
several employees, the cost is only $97 per additional
employee. We are so confident this will save
you money, we offer our HRA Tax Saver 100% Money-Back
Guarantee:
We
will refund your money if your taxes are not reduced
by at least twice as much as you pay for
your HRA.
If
you have any questions, we're here to help.
Just use our contact form
and someone will get back to you with answers to your
questions.
Thank
you for all your help. The document
looked good, and I have put it into effect.
You have been great to work with and I will
definitely refer others who are interested
in setting up HSAs/HRAs to you guys.
Venu
Julapalli, MD
Integral Gastroenterology Center, P.A.
Houston, TX
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