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.Tune in to this episode of the Business Owner’s Toolkit radio show for a deep dive on Health Savings Accounts (HSAs). Our guests include Barbara Weltman, coauthor of the Small Business Survival Book and Sam Gibbs, SVP at eHealth.
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.
