At California Health Insurance, we provide the resources you need to find quality group health insurance for your group or small business. Compare free quotes or work directly with an agent to find the most cost-effective group health insurance California for your needs.
There are several advantages to obtaining health insurance through an employer through a group health insurance plan. Leading health insurance companies will often compete to provide group medical insurance, which means you get affordable rates! You can compare these quotes from multiple providers of California health insurance to find the lowest rate.
Tax Benefits
Many entrepreneurs are unaware that their group health plans can offer significant tax deductions on premiums and health savings accounts.
If you are a small business owner, continuously looking for tax cuts then benefits should be on the top of your list. There are only so many deductions that you can take in each category, so it benefits you to know all of the categories and their allowed maximums.
Code 162 from the IRS states that all deductions must qualify as either “ordinary” or “necessary.” Since healthcare is mandatory for all small business employing over two people, this is a necessary expense.
Premiums
By law in California, you are allowed to write off 100% of the premiums you are paying out for your group health plan. Even with a smaller staff, this can result in a significant tax deduction when it is time to put pen to paper. One important thing to make sure of is to have all documentation including receipts for payments as well as a copy of your current policy to prove that you are paying.
If you have any questions with tax deductions, make sure to take the information into your accountant so they can review them. Your accountant might know about some additional tax credits for paying employee’s premiums or other health care needs.
Discover the benefits of finding group medical insurance in California through California Health Insurance. We will help you compare quotes to find the best plans from leading carriers. To get started today, fill out our quote form, call (800) 311-1162 or fill out our contact form to speak with an agent.