The Individual HRA

A benefit plan for sole-proprietors

• For years larger companies have utilized employee benefit plans to save tax dollars.
• Employee benefit plans currently save these companies millions of dollars in taxes each year.
• In 1954 the Federal Government made it possible for sole proprietors to implement their own employee benefit plans.
• Now YOU can create your own employee benefit plan using the Individual HRA.
• YOU become the administrator.
• YOU save thousands in tax dollars.

Employee Benefit Plan

With your customized benefit plan you can offer the following tax deductions *

• Medical Co-pays
• Prescription Drug Co-pays
• Dental Expenses
• Vision Expenses
• Long Term Care Insurance Premiums*
• Sickness/Accident Insurance Premiums
• 100% of Health Insurance Premiums
• $50,000 of Term Life Insurance*

* Federal Limitations Apply
* Discrimination Rules May Vary

Setting Up Your Plan

As your tax preparer:

• I will prepare the documentation
• Plan document
• Summary Plan description
• Assistance with Employer/Employee Agreement
• I will review your medical expenses at the end of the year, and provide you with online plan documentation.

Creating Your Employee Benefit Plan in 5 Easy Steps

1. Create your employer/employee relationship
2. Complete necessary tax forms
3. Pay spouse/employee a monthly salary
4. Reimburse medical expenses monthly
5. Send in annual reimbursement summary

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