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Old 12-04-2012, 02:38 PM
hackitdown hackitdown is offline
LawnSite Silver Member
Join Date: Apr 2004
Location: Groton, MA
Posts: 2,410
Originally Posted by Duekster View Post
If you do that, you should ear mark it as payments there are some initial tax credits you get to help your company transition to paying the extra for health insurance.
Yes, I looked into it, you are right. In Mass. I can either set up a "Section 125 health savings account", or just set up a plan to offer insurance through the Exchange. Either way would be less expensive than just paying him more.

So I took a shot at setting up a plan. It took about 10 minutes to set it up, and there are about 40 plans to choose from. The least expensive was about $220/month. So if I pay 1/2, it would be $110 from me. And then I get a portion of that cost back as a tax credit. I think this is the way to go.

This will be my employee's "raise" this year. It amounts to around 75 cents per hour, I think.

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