Saving 25-50% on Chiropractic Care
These new vehicles fund your out-of-pocket healthcare expenses with pretax dollars—saving you up to 50% on wage (FICA) and income taxes.
If you own a home, every April 15 you get a 100% income tax deduction for your real estate taxes and for the interest on your mortgage. (NOTE: Although there are limits on the deductibility of mortgage interest, most people do get a 100% deduction.) Now, you can get similar tax benefits for your chiropractic care.
Health Reimbursement Arrangements (HRAs)
HRAs (also called Section 105 plans) represent the newest and most cutting edge development in employer-sponsored health benefits. Although they are brand new, 11 million U.S. employees are already covered by HRA plans.
With an HRA, employers designate a fixed annual amount for employees to spend, tax-free, on their choice of sickness or wellness expenses. Unused amounts each year may be carried forward indefinitely, and may be given to former employees tax-free to fund health costs during retirement.
In addition to general chiropractic care, HRAs are specifically allowed for smoking cessation and weight loss programs.
Employers have been raising annual deductibles and employee co-pays every year, both to save money and to give employees incentives to make wise healthcare choices. This forces employees to spend their own after-tax dollars for out-of-pocket expenses—needlessly wasting 25-50% by throwing away the tax deduction that is available for these amounts.
Using HRAs, employers can still give employees incentives to make wise healthcare choices, while also guarantying employees the 100% tax deduction they are entitled to for all sickness and wellness care.
$$$ TIP:
- If your employer doesn't yet offer an HRA for out-of-pocket healthcare expenses, tell him about it, and let him know you'd rather receive more tax-free HRA funds than taxable ordinary wages. Every $100 that your employer provides in tax-free HRA funds is worth the same to you after- taxes as up to a $200 increase in your salary.
Visit www.ZaneHRA.com for more information.
HRAs are the immediate future of all employer sponsored health benefits programs, and the permanent solution to rising employer health benefits costs.
If you are an employer, HRAs represent the ultimate solution when it comes to recruiting and retaining employees. With an HRA:
- You give each employee a monthly, tax-free allowance to spend on sickness, wellness, and their own individual health insurance premium.
- Healthy employees choose Blue Cross Blue Shield individual plans, which cost less than 1/2 the price of group coverage.
- Unhealthy employees receive state-guaranteed Blue Cross coverage.
- All employees typically have funds left over to spend on wellness, chiropractic, dental, and prevention, and to pay their deductible if they become ill.
- With ZaneHRA, HRA funds remain with you until a claim is filed and approved, and you can keep 100% of HRA funds when an employee leaves your company.
To set up an HRA for your employees visit www.ZaneHRA.com.