Tax Savings Ideas

Western Benefit Solutions can help you and your employees save money by placing you in one of the following Tax savings plans.

Annuities

• About Variable Annuities
• Variable Annuity Advantages
• Immediate and Deferred Variable Annuities
• Variable and Fixed Annuities
• Risk and Reward

Premium Only Plan Section 125

Plan Section 125 can provide tax savings by reducing employee medical premiums from your gross salary prior to calculation of federal income and social security taxes, as allowed under Internal Revenue Code (IRC) Section 125.

Flexible Section 125 Plan

The Section 125 Plan offers you the opportunity to pay for the following benefits on a tax sheltered basis: Health insurance premiums for dependent coverage, personal accident insurance premiums, cancer care insurance premiums, personal recovery plus, and voluntary indemnity plans.

HRA

HRA's, or Health reimbursement accounts, consist of funds set aside by employers to reimburse employees for qualified medical expenses, just as an insurance plan will reimburse covered individuals for the cost of services incurred.

MSA

A Medical Savings Account or MSA is a combination of a high deductible health insurance policy and a separate savings account. Congress created the MSA as another way to cover your medical expenses, and it is subject to IRS regulations and guidelines.