Under the final rules of the Affordable Care Act (ACA), this is no longer an option. Employers can only offer pre-tax reimbursement for health insurance offered through their own sponsored group health plans.
Nina Braun, CPA, CFE and Ketel Thorstenson partner, says employers can continue to pay taxable bonuses to the employees. For more information, check out her article in the summer edition of The KT Addition.
The ACA has raised a number of questions as it becomes the law of the land. Braun and our staff of accountants in Rapid City, Williston, Spearfish and Custer have stayed on top of the rules and regulations throughout the process. If you have specific questions or concerns, give us a call.