Exploring Tax Benefits of Offering Group Health Insurance - PowerPoint PPT Presentation
Title:
Exploring Tax Benefits of Offering Group Health Insurance
Description:
Offering group insurance comes with a range of significant tax benefits, including deductions for premium contributions, potential tax credits, pretax payroll reductions, and cost savings through HRAs. Additionally, businesses that offer health insurance often enjoy lower workers' compensation premiums and improved employee retention. For small businesses especially, understanding and leveraging these tax benefits can make offering group health insurance more affordable, ultimately leading to healthier employees and a healthier bottom line. To know more visit here – PowerPoint PPT presentation
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Title: Exploring Tax Benefits of Offering Group Health Insurance
1
EXPLORING TAX BENEFITS OF OFFERING GROUP HEALTH
INSURANCE
TAX DEDUCTIONS FOR PREMIUM CONTRIBUTIONS Employers
that contribute to their employees group
insurance premiums can deduct those contributions
as a business expense.
01
THE SMALL BUSINESS HEALTH CARE TAX CREDIT The
Small Business Health Care Tax Credit is designed
to assist small businesses that offer health
insurance to their employees.
02
03
PRETAX CONTRIBUTIONS THROUGH SECTION 125
PLANS Also known as "cafeteria plans," Section
125 plans allow teams to make their contributions
toward group health insurance premiums using
pretax dollars.
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