Only 32% of small to medium construction firms offer health benefits to their staff. Group health insurance is often out of the question due to cost, so many employers wanting to help their employees with healthcare costs choose to offer a taxable stipend.
While a stipend is easy to manage, the money budgeted for each employee gets taxed on both ends, leaving them with much less than the employer intended. Thankfully, there's a tax-free way to reimburse employees for health care costs called an HRA.
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