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Whiteboard Session - IRS Code Compliance

Written by: PeopleKeep Team
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Originally published on September 11, 2014. Last updated August 14, 2019.

With the cost of group health insurance on the rise, employers are facing enormous cost challenges and are seeking more cost-effective alternatives to group health insurance. The emerging solution is premium reimbursement for individual health insurance.

With a compliant premium reimbursement plan, employers can reimburse their employees tax-free for individual health insurance premiums. The IRS requires that a formal premium reimbursement plan (with IRS-compliant plan documents) be established in order for an employer to reimburse employees for their individual health insurance premiums tax-free.

In this new Zane Benefits Whiteboard Session, JD Cleary outlines how employers can reimburse employees tax-free for individual health insurance, while keeping the business and employees in compliance.

For reference, here's a snapshot of this week's whiteboard:

IRS Code Compliance

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Topics: HRA Compliance
Originally published on September 11, 2014. Last updated August 14, 2019.
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