Average AgriPlan/BizPlan
Participants Save More Than $2,450 Annually in Taxes
AgriPlan
(for farmers) and BizPlan (for small business owners) are Internal Revenue Code
Section 105 Medical Reimbursement Plans available to business owners across the
nation. Sole proprietors, corporations, limited liability companies, and partnerships
utilize the administrative services of AgriPlan/BizPlan to save substantial tax
dollars annually. AgriPlan/BizPlan services allow businesses to deduct 100 percent
of their family health insurance premiums and out-of-pocket medical, vision, and
dental expenses not covered by insurance.
To qualify for
AgriPlan or BizPlan, a business owner must be able to legitimately employ his
or her spouse. (For corporations, family employment is not necessary.) The spouse
becomes an employee in the business. The business owner provides a reasonable
wage for necessary business duties and files certain Internal Revenue Service
forms. AgriPlan/BizPlan, developed in 1986, simplifies the accounting procedures
and provides the administration and documentation required to maintain a proper
Section 105 Medical Reimbursement Plan. That includes:
- Plan Document
- Updated to stay within IRS, DOL and ERISA guidelines.
- Adoption
Agreement - To set the guidelines of the employee benefit plan.
- Required
Summary Plan Description - Required under ERISA.
- Annual Documentation
of Benefits Paid - Must be made available for DOL inspection at any time.
- Third Party Adjudication of Claims
- Audit Guarantee - Covering
the taxpayer.
The average AgriPlan/BizPlan participants
save more than $2,450 annually in taxes. Over 50,000 participants are enrolled
nationally in these plans through tax, financial, and insurance experts.
To
download an application, click here
For
more information please call the NBA at 800-456-0440
