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The accountant for my client, spouse of company founder, S Corp, owner and one 30 hour + EE on payroll, has recommended individual coverage for the owner's family instead of doing small group.
The spouse is working a day job until mid March, to quit and work in the family business. I come in as the broker for the family's health coverage.
The plan was for them to have one month of COBRA, and do tiny small group 4/1/17. My BCBS carrier will allow the owner/family to be the sole insured if other payroll 30 hour + EE's have valid waivers. The one EE's spouse carries them on her employer group.
The owner's accountant has now advised them that for taxes, individual insurance will work better? My tax pro says no, it's fine.
There are complications in IFP scheme, not least, my carrier will never pay me commission on a plan I write after 3/1/17 effective date outside open enrollment, never mind that 2018 is likely to be chaos in IFP.
What do your small business S Corp owners do about taxes?
The spouse is working a day job until mid March, to quit and work in the family business. I come in as the broker for the family's health coverage.
The plan was for them to have one month of COBRA, and do tiny small group 4/1/17. My BCBS carrier will allow the owner/family to be the sole insured if other payroll 30 hour + EE's have valid waivers. The one EE's spouse carries them on her employer group.
The owner's accountant has now advised them that for taxes, individual insurance will work better? My tax pro says no, it's fine.
There are complications in IFP scheme, not least, my carrier will never pay me commission on a plan I write after 3/1/17 effective date outside open enrollment, never mind that 2018 is likely to be chaos in IFP.
What do your small business S Corp owners do about taxes?