Healthcare costs are an issue for everybody, regardless of company size. These days, I’m beginning to think that small business owners and entrepreneurs have an advantage over larger companies. We can take full advantage of HSAs, medical reimbursement accounts and high-deductible insurance policies.It’s worth noting that only owners of C corporations can enjoy the benefits of an HRA or medical reimbursement account. While other types of entities can provide these plans for rank-and-file employees, owners are barred from receiving tax-free treatment. Thus, owners who think they may need company-paid medical assistance might want to use a C corporation as their entity choice.
Social and environmentally-savvy business owners have found a new way to integrate their convictions into their business: the B Corporation.
As a result of the ease of
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