BizPlan is a medical pre-tax plan established specifically for self-employed individuals. BizPlan is not insurance; rather, it is the benefit vehicle that allows self-employed individuals to pay for their medical expenses with pre-taxed dollars and turn 100% of their medical expenses into a full tax deduction for their business.
This plan is ideal for business professionals who file as a corporation; they are able to offer this pre-tax medical benefit to themselves. If you are a sole-proprietor or an LLC and your spouse assists with the business, you would provide this benefit to your employed spouse (this is necessary because BizPlan is considered an “employee benefit”). Besides allowing 100% of your family’s medical premiums and expenses to be paid for with pre-tax dollars, the benefit is also a full tax deduction for your business.
BizPlan offers:
- 100% deduction of all health insurance premiums, including long-term care and spouse's disability policies. Also includes Cancer Insurance for eligible employees and Term Life Insurance premiums (up to $50,000 in coverage).
- 100% deduction of all uninsured medical, dental and vision expenses. (examples of eligible expenses)
- Significant reduction of federal, state, and self-employment taxes.
- Convenient and exclusive Benefits Card.
- An industry exclusive Audit Guarantee.
- Savings Guarantee - receive 100% refund of your enrollment fee if you do not deduct at least $2000.
- Money Back Guarantee
- An optional Payroll Administration feature.
- Complete documentation and compliance with the IRS, DOL, and ERISA.
- Timely mailing of year-end summary statements which are required for tax preparation.
- Support and guidance via our toll-free hotline.
Learn more! Watch this audio/visual OnDemand Presentation!
