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- What we do
As an entrepreneur myself and a holder of a Master in Business Administration degree, I understand and appreciate the many challenges business owners face in building a successful and thriving enterprise.
Specifically, I help small business owners plan for their retirement and the eventual sale or succession of their business.
I can also implement a variety of group health and retirement savings plans for the employees of the business to help retain valuable employees.
Utilizing insurance strategies I can help the business owner fund buy sell agreements and key man replacement.
I have alliances with Certified Professional Accountants when complex tax and business succession planning strategies are required.
The Health Spending Account (HSA) is a registered account registered that is established exclusively to pay for healthcare services for you and your dependent family members.
A HSA is also a great alternative - or supplement - to a traditional employee health benefits program. Unlike traditional plans, which often include items that you or your employees don’t want or need, a HSA allows you and your employees choose which healthcare services you want to use and to fund through your benefits dollars.
An employer or business owner deposits funds into the HSA for themselves, or on behalf of their employees. The funds are deposited on a pre-tax basis, which means the account holder does not pay income tax on any amounts deposited in the account. Deposits can be made on a monthly, quarterly or annual basis, allowing you to plan your spending and offering budget certainty.
When an HSA holder incurs an expense for an eligible healthcare service, they then submit the bill to Benecaid (a leading company in this area that administer Health Spending Accounts for Businesses and provides health benefit administrative services) and the funds are reimbursed to the account holder.
By setting up an HSA and submitting your healthcare expenses to be reimbursed from your account, you save 35% or more on your healthcare expenses because you are using pre-tax dollars.
To learn more about HSAs and other health care plan options for business owners, please contact me.