AGRIPLAN and FLEXSYSTEM

AgriPlan is a Section 105 HRA plan (health reimbursement arrangement) that enables qualified small business owners to deduct 100% of federal, state, and FICA taxes for family medical costs, and on average save $4,000 or more a year! Key to these savings is the ability to declare medical expenses as a business expense rather than a personal deduction.  Learn more

FlexSystem enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the employee.  Learn more

AgriPlan

AGRIPLAN is based on Section 105 of the Internal Revenue Code. Under Section 105, a self-employed individual who employs a spouse in the business can become eligible for a medical reimbursement package. AgriPlan medical reimbursement plans save substantial tax dollars annually by allowing small business owners to deduct 100 percent of their family health insurance premiums and out-of-pocket medical, vision and dental expenses not covered by insurance as business expenses. AgriPlan helps ensure that you meet IRS requirements, and with small business audits on the rise, a 100% audit guarantee becomes even more valuable. The average savings for this type of plan is over $4,000 a year! Savings have risen right along with the rising cost of health care.

Benefits of the plan:

A Section 105 plan allows the business owner to deduct 100% of:

• Health insurance and dental insurance premiums for eligible employees and family.  Including long-term care insurance.
• Uninsured (out-of-pocket) medical, dental, and vision care expenses for eligible employees and family; and
• Life, disability income, contact lens, hearing aid, Medicare part A, Medicare Supplemental, Optical/Vision, School/Sports, and cancer insurance premiums for eligible employees.

Qualified Filing Statuses:

• Sole Proprietorships
• Partnerships (unless between the husband and wife)
• C-Corporations (some additional requirements apply)
• S-Corporations
• LLCs (depends upon how they file their federal tax return)

FlexSystem

FLEXSYSTEM is an IRS Code Section 125 Cafeteria Plan geared toward group employers. FlexSystem enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the employee. In many instances the plan actually becomes a revenue-generating center for the employer. Benefits costs are controlled without restricting choices, and you pay less Social Security tax on every dollar of employee participation.  FlexSystem also allows the employer to fund the account for each employee should they wish with no tax ramifications upon the employee or the employer.

How does it work? After an easy set-up, employees place funds in a pre-determined benefit accounts through salary reduction. When a qualified expense is incurred (medical or dependent expense), the employee submits a request and receives reimbursements. With a debit card for OOP medical expenses, on-line administration and submission of requests for reimbursement, daily check processing, and direct deposit, FlexSystem provides the industry’s fastest turnaround of requests.