Need a good healthcare plan? We have options.
Are you ready to re-evaluate your health care plan? Whether you are a business owner, self-employed, an employee of a business, you can enjoy the benefits of a Health Savings Account. A Health Savings Account (HSA) is a tax-exempt ¹ custodial account for the purpose of paying or reimbursing qualified medical expenses in conjunction with a high-deductible health care plan.
Qualifications for an HSA
- Covered under a High Deductible Health Care Plan (HDHP)
- Not covered by any other health plan that is not a HDHP such as a Health Flexible Spending Account (FSA)
- Not currently covered by Medicare benefits
- Not eligible to be claimed as a dependent on another person’s tax return
HSA Contributions
Once the eligible requirements are met, anyone can contribute to an HSA on an individual’s behalf (the individual, their employer, their family, etc.) as long as they do not exceed the total annual limit.
SEP IRA
This low-cost retirement plan is designed for small businesses and the self-employed business owner. This would include sole proprietors, partnerships, and corporations.
- The SEP plan enables you to make discretionary, tax-deductible contributions for employers and eligible employees.
- The employer may choose to make the plan less restrictive.
- Earnings and contributions are tax deferred.
Check with your financial adviser or tax consultant for more details about the IRA that's best for you and your tax-deductibility status. For more information, or to receive a description of rates, fees, and limitations, call 641-456-4793 and ask to speak with IRA representative.
¹ Check with your financial advisor for more details about the tax-deductibility status.
