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Who can offer a Premium Only Plan?

Premium Only Plan can be established by any employer. Qualified employers include corporations, s-corps, partnerships, LLCs, sole proprietors, professional corporations, and not-for-profits. Related employers also qualify, including members of controlled groups or affiliated service groups.

Although certain “owners” may sponsor a plan for their employees, they will not be personally eligible for tax savings through payroll deduction. Individuals that are not eligible include, sole proprietors, partners, members of an LLC (in most cases), or individuals owning more than 2% of an s-corporation. The same rule applies to a spouse or dependent that works for that employer.

A Premium Only Plan is easy to install. So, you can start saving taxes immediately!

You can start your Premium Only Plan at any time. You even can start your Premium Only Plan mid-year and then cut it short to align with your insurance renewal. Learn more.