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Are there tax benefits that accompany buying group health insurance?

Employers who offer group health insurance are frequently eligible for considerable tax advantages. As a business owner, you can deduct 100% of the premiums you pay annually on qualifying group health plans. Another benefit is the deduction of payroll taxes as a direct result of offering group health insurance as part of a total compensation package. Additionally, your employees will have the opportunity to pay their portion of the monthly premium with no tax penalty. You will want to check with your accountant or tax advisor to confirm the specific tax benefits that are available for your area and business.

Small Business Health Insurance FAQs

• Am I eligible to enroll under a small business health insurance plan?
• Are there tax benefits that accompany buying group health insurance?
• Does my company qualify for group health insurance?
• How do I choose the best group health insurance plan for my company?
• How much of the employees’ premium is the employer required to pay?
• Is dental coverage automatically included?
• Should I only include employees who want insurance?
• The only two employees in our company are my spouse and me. How should this information be entered?
• What are the different kinds of group health insurance?
• What is a benefit rider?
• What is a Health Maintenance Organization (HMO)?
• What is a multi-plan?
• What is a Point of Service (POS) plan?
• What is a Preferred Provider Organization (PPO)?
• What is an Indemnity plan?
• What is the process for obtaining small business coverage?
• Why do you need to know my zip code?
• Why should I provide group health insurance to my employees?
• Will my final group health insurance costs be the same as the rates on my initial quote?