- HRAs are Employer Funded
- Employees are reimbursed tax free for qualified medical expenses up to a maximum dollar amount for a coverage period.
- Employer does not pay tax on the amount reimbursed.
- An HRA can be used with an HSA, and FSA.
An HRA can be used with the following business types:
- Sole-Proprietors
(with legitimate spouse employment)
- Corporations
- LLCs and LLPs
- Partnerships
- Non Profit Organizations
A Premium Only Plan allows an employee to deduct their portion of group health insurance premiums pre-tax from their pay-check.
With the Plan Administration Center Employers can establish Premium Only Plans with minimum effort.
Why employees need a POP Plan:
- Pretax Deduction of Group Health Insurance Premiums
- Pretax Deduction of Group Accident Premiums
- Pretax Deduction of Group Indemnity Premiums
- Pretax Deduction of HSA Contributions
Why Employers Need a POP Plan:
- Their POP Plan is out of date.
- They don't understand what a POP plan is.
- They do not understand rules of HSA contribution.
- They save matching FICA on every dollar withheld pretax.
MyCompanyRecords provides innovative, next generation business solutions to corporate owners nationwide.
Our principals and legal team bring deep expertise in corporate liability and tax protection that includes 25+ years of litigation and research experience on thousands of cases across America. Our main office is in Kaysville, UT, and we are a privately-held company.
FACT #1
As the owner of a corporation (whether it's a C, S, or LLC), your clients are required by your state to document every major business activity.
FACT #2
If your client's corporate records are not in order and you are sued, your client could be stripped of all liability protection and tax benefits.
FACT #3
Your client has a 1 in 3 chance of being sued this year, and when it happens it will be too late to put their records in order.
MyCompanyRecords LLC
P.O. Box 931
Kaysville, Ut.
84037-0931
Phone: 877.270.7751
Fax: 801.327.4204
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