Medical Insurance premiums

[anr1380]

Hi All,
My company is an S Corp with 1 employee. I have taken group insurance for myself and 1 employee. I was able to deduct the group insurance premium as the business expenses.

I recently found out that individual plans are very cheaper then group plans.

If I plan to take the individual plan for myself and pay my premium and employee takes his individual plan and pay his premium, can I pay the employee's premium to the employee and claim as the business expenses??? Is it tax deductable.

I have offered the position with the promise of paying his full health insurnace benefits

Thanks
arknaren

 

[great guru]

Employee benefits are tax deductable. (Group or individuals).
But group insurances are cheaper then personel insurance (period) for the same amount of coverages. Read in between the lines for benefits, deductabiles before camparing the premiums.

Hi All,
My company is an S Corp with 1 employee. I have taken group insurance for myself and 1 employee. I was able to deduct the group insurance premium as the business expenses.

I recently found out that individual plans are very cheaper then group plans.

If I plan to take the individual plan for myself and pay my premium and employee takes his individual plan and pay his premium, can I pay the employee's premium to the employee and claim as the business expenses??? Is it tax deductable.

I have offered the position with the promise of paying his full health insurnace benefits

Thanks
arknaren