Tax Savings Program
Your One-Stop Shop for IRS-Approved Tax Savings on Health Care Spending
Do you have an individually owned insurance policy?
Take advantage of IRS-approved tax savings designed to deduct up-to 100% of health care costs, such as individual insurance premiums and qualified out-of-pocket medical expenses, as a business deduction. The HRA is not insurance, but instead is coupled with your current benefit plan to provide savings and contain the cost of health care.
- BASE® Section 105 HRA
Ideal for self-employed business owners, this HRA saves clients an average of $5,000 in tax savings each year on health care spending.
- BASE® Individual Coverage HRA (ICHRA) – NEW as of January 2020
A great alternative when it comes to providing health benefits and available for any size employer, this benefit allows employers to reimburse employees enrolled in individual health insurance for the cost of premiums, as well as medical care expenses.
Do you own your business and provide group benefits or would like to offer something to your employees?
There are a variety of HRA options available, whether you sponsor a group health insurance plan or not to help employees pay for qualified medical coverage and out-of-pocket medical expenses, such as insurance premiums, copays, deductibles, eye care, dental care, etc.
- BASE® Qualified Small Employer HRA (QSEHRA)
Available to employers with 50 or less employees when a group health plan is not an option. Employers know upfront their bottom-line health care costs and employees know what is available to them for reimbursement of qualified medical expenses.
- BASE® Integrated HRA
Also known as a Medical Expense Reimbursement Plan (MERP), coupled with a high-deductible group health plan, helps to bridge the gap between offering a group health plan and minimizes insurance premium costs. Employers can save 10-50% on insurance premiums each year.
- BASE® Excepted Benefit HRA (EBHRA)
Available to employers of all sizes that offer a traditional group health plan to provide an additional $1,800 to reimburse employees for copays, deductibles, prescriptions, dental and vision insurance premiums, COBRA continuation coverage, and short-term limited duration insurance premiums. The employer must have a group health plan in place, but the employees do not need to be enrolled to benefit.
NOTE: The Affordable Care Act may not allow the reimbursement of health insurance premiums based on your business size and plan design. BASE®HRA, BASE® 125 Cafeteria Plan, BASE® Integrated HRA, BASE® and SamplePay® are offered by Benefit Administration for the Self-EmployedTM (BASE®). BASE® HRA, BASE® 125 Cafeteria Plan, BASE® Integrated HRA, BASE® and SamplePay® are registered trademarks of BASE®.
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