Many small and medium-sized employers are looking for a way to control healthcare benefit costs and still offer a great benefit to their key employees. As an alternative to group health insurance, employers are switching to a premium reimbursement plan to reimburse individual health insurance. It is important to understand the compliance of the rules and regulations regarding the reimbursement of individual health insurance before implementing a premium reimbursement plan.
Here are five resources to help small employers and health insurance brokers understand how reimbursing employees for individual health insurance works.
During this six minute video whiteboard session, learn about how employers can reimburse employees tax-free for individual health insurance, while keeping the business and employees in compliance.
This infographic outlines the five steps for setting up a Premium Reimbursement Program the right way. This visual helps employers (and their brokers) understand the right way to reimburse employees for individual health insurance.
This article summarizes the key compliance rules (IRS, ACA, ERISA, HIPAA, and COBRA) for reimbursing employees tax-free for individual health insurance.
This article contains information on five things employers need to know about individual health insurance. Individual health insurance is is now less expensive than group coverage, guaranteed issue, portable, flexible, and reimbursable through a formal plan.
This article contains important information for employers and brokers to understand the four key Internal Revenue Code (IRC) sections that allow for tax-preferred premium reimbursement.
Do you have any questions about how reimbursing individual health insurance works? Leave a comment below.