Small Family Corporation
Small Owner Managed Corporations have somewhat limited options when setting up benefit programs. Insurance benefit programs are available but can be costly. MediDirect® provides more cost effective options than do most other programs. Access to full benefit options that larger companies offer are available to your small business.
Benefit options available to each employee are:
- Group Benefits
- Individualized Benefits
MediDirect® can provide you with full access to benefits to attract and retain valuable employees. Call us to discuss.
There is significant tax savings for owner managers. Check your savings potential by checking out the Tax Savings Calculator
Small Owner Managed Corporations are permitted to set their own annual benefit limits for their employees. MediDirect® assists management in designing and developing their benefit plan. Management is free to choose the benefit levels available for each employee’s Health, Dental and Wellness Benefit Plan. The employer may divide employees into various groups within the corporate structure (e.g. executive, management, full-time, hourly, etc.) and provide different incentives and benefits for each group and for employees who are single or who have dependents.
Small corporations and professional corporations with shareholder employees should be careful in setting up a benefits program that excludes the non-shareholder employees. A benefit program for a majority shareholder and principal employee of a corporation that excludes non-shareholder employees should be carefully planned to meet tax deductible eligibility status. MediDirect® would be happy to discuss this situation and we strongly urge anyone setting up a plan that excludes non-shareholder employees to discuss with their tax advisor to obtain appropriate counsel.