What businesses qualify for a MED 105 plan?
The simple answer is “all”. All businesses will realize a tax benefit by implementing a MED 105 plan. The BEST application of a MED 105 plan is for the self-employed that has a spouse who is active in the business. The small business owner hires their spouse and adopts a MED 105 plan. The spouse then requests reimbursement for the family’s medical expenses under the plan. All of the family’s medical costs are now a tax deduction for the business.
