Skyrocketing increases in healthcare costs have adversely impacted businesses’ ability to provide healthcare benefits to their employees. Small to medium-sized employers have been particularly hurt.
TASC can help you become a superhero to these struggling small businesses by offering tax-advantaged benefits that come packaged with extraordinary support and tools. When you become a contracted Provider of TASC services, not only can you save your clients an average of more than $5,000 a year, you also protect these tax savings by keeping your clients in compliance with changing healthcare reform regulations.
An industry leader, TASC is a third-party benefits administrator that has provided quality services and expertise to the marketplace for over 40 years. TASC provides industry-exclusive Audit Guarantees that have been tested and defended in federal, district and U.S. tax courts.
AgriPlanNOW and BizPlanNOW Health Reimbursement Arrangements
HRA Plans enable qualified small business owners to deduct federal, state and self-employment taxes on their family's insurance premiums and out-of-pocket medical expenses. The result is a deduction for the family’s medical costs – equating to an average savings of more than $5,000 a year.
Beginning January 1, 2017, employers with fewer than 50 employees who do not sponsor Group insurance can once again assist their employees with rising healthcare costs through a Small Business HRA (SBHRA) which was established by H.R. 34 and the Cures Act. (One Employee, Integrated, and Limited Purpose HRA Plans were already compliant with federal law.)
FlexSystem Flexible Spending Arrangement
FSA might be a better fit for employers who have multiple employees and sponsor Group insurance. Contributions to a FSA are deducted on a pre-tax basis, or are non-taxable if they are employer-contributed. Contributions can be made pre-tax through payroll for reimbursement for items such as dependent care and out-of-pocket medical expenses.
By using pre-tax dollars, employees save between 25 and 40% on their healthcare expenses. In addition, since these employees are reducing their taxable income by funding these accounts, the employer pays less in payroll taxes. Typically, FlexSystem clients save enough in payroll taxes to pay for the administrative costs of the Plan.
Tax professionals that contract as a TASC Provider of services receive new and renewal commissions for each of their clients who enroll in one of TASC’s Plans, along with quarterly bonuses. These contracted Providers can even earn a trip on an annual incentive trip to a destination location. If you cannot accept compensation, we can discount the price of our plans for your clients.
Call us today at 888-595-2261 ext. 17732 or e-mail