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What
does AgriPlan/BizPlan offer?
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.
Who
qualifies for AgriPlan/BizPlan?
To qualify for AgriPlan or BizPlan, a business owner must be
able to legitimately employ his or her spouse. (For C
corporations, family employment is not necessary.) Those who
qualify include sole proprietors, partnerships, limited
liability companies and corporations (including sub-chapter
S corporations).
How does
AgriPlan/BizPlan work?
The spouse becomes an employee in the business. The business
owner provides the employed-spouse a compensation package
that includes a reasonable wage for necessary business
duties and a benefit package that includes reimbursement of
health care expenses. These expenses are now a business
expenses and are 100 percent deductible.
How much
will I save?
The average AgriPlan/BizPlan participants save more than
$2,450 annually in taxes. Last year, AgriPlan/BizPlan
participants collectively deducted nearly three hundred
million dollars from their taxes.
How much
does it cost?
AgriPlan/BizPlan cost $195 per year. Additional employees
can be added to Plan for $50.
How
much time does it take to set up and maintain the Plan?
Setting up an AgriPlan/BizPlan is extremely easy. You simply
enroll in the Plan, employ your spouse by establishing a
compensation package and reimburse your employee's medical
expenses. Annual duties include submitting benefit expenses
to AgriPlan/BizPlan for review, renewing your Plan and
re-electing your benefits. AgriPlan/BizPlan provides all the
required documents and forms and toll-free support.
Why
do I need AgriPlan/BizPlan?
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 a Plan Document,
an Adoption Agreement, a Required Summary Plan Description,
an annual Documentation of Benefits Paid and a Third Party
Adjudication of Claims. AgriPlan/BizPlan also offers an
Audit Guarantee to all Participants.
How do I
sign up for AgriPlan/BizPlan?
You can print off a copy of a plan application from this
link. You can then either call
1-888-462-8610
or
1-651-462-8610, email
bruceg@agriplan-bizplan.com
or fill out the submission request form on this page and you
will be contacted directly by a TASC provider at the time
you requested.
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