Summer is quickly coming to an end and fall is fast approaching. This is a good time to take a look at where you can start saving valuable tax dollars! Did you know small business owners can save an average of $4,700 dollars a year with a Section 105 BASE® Health Reimbursement Arrangement (HRA)?
Healthcare costs can be expensive, and many small business owners struggle with the rising costs. The BASE® HRA assists with healthcare expenses and participants have the opportunity to deduct up-to 100% of healthcare costs, including individual insurance premiums and qualifying out-of-pocket medical expenses. This includes prescriptions, vision, dental and much more! This plan lets employers keep their hard earned money in their pocket!
Jerry K., a client since 2005, shares his success with the BASE® HRA. “The BASE® HRA has saved me thousands of dollars over the 16 years I have been involved with the plan, and is an easy method of saving tax dollars. I have always felt the staff was excellent and is always there to answer any questions with effective answers. The plan is straight forward, easy-to-use, and tracking medical expenses is worth the minimal extra effort when the result is a sizable savings,” he says.
The BASE® staff is here to support our clients and answer any questions that may come up! Our goal is to make this plan as easy and as low maintenance as possible, so small business owners can focus on their business and family.
BASE® gets the opportunity to work with thousands of small business owners across the United States, helping them save thousands of dollars each year. Gary M. shared his story of how BASE® helped him save tax dollars with this plan. “The BASE® HRA has saved me money since enrolling in the plan in 2011. Last year I saved around $3,600, which makes tracking expenses worth the time and effort. The BASE® HRA is the only and best way to save tax dollars.”
If you are a small business owner, contact BASE® today to see if you qualify for a BASE® HRA and fall into savings!
Summer is fast approaching and this time of year everyone’s schedule seems to get a little busier. This also means summer activities and extra expenses. The BASE® 125 Cafeteria Plan is something employees can use to save tax dollars in the summer months, and throughout the year to help with extra costs of summer.
Employers are able to customize benefits and save money with the BASE® 125 Cafeteria Plan. By simply sponsoring a BASE® 125 Cafeteria Plan, employers can allow employees who are paying medical expenses, insurance premiums, or dependent care expenses to do so on a pre-tax basis. Due to the flexibility of this benefit, employers can choose one or more of the following pre-tax options to offer participants:
- Flexible Spending Account (FSA)
- Limited Purpose FSA
- Dependent Care Assistance Plan (DCAP)
- Premium Only Plan (POP)
Employees can utilize a DCAP during the summer while their kids are at daycare and no longer in school. They can also utilize the FSA for qualifying out-of-pocket expenses that could include anything from co-payments, prescription drugs, over-the-counter medical supplies, and more. This includes prescription sunglasses and first aid kits for those summer days! By sponsoring an FSA, employers provide another means for employees to pay for out-of-pocket medical costs through an employee funded benefit plan.
Anne M. shared with BASE® why her company decided to implement a 125 Cafeteria Plan.
“The BASE® 125 Cafeteria Plan allows employees the flexibility of choosing how much pre-tax money they want to set aside per their needs. Not only can our staff have a way to pay their dental and vision, but they can also get reimbursement for childcare and some supplemental insurance pre-tax. Plus, our BASE® representative is prompt and very thorough in getting answers to me, as well as any of my staff. The BASE® staff is excellent on every level.”
Creative benefit planning can help keep more fun in the sun with the BASE®125 Cafeteria Plan. For more information, contact us today at 1-888-386-9680.