Comments on: How do health insurance tax deductions work for a member managed LLC? http://healthsgateway.com/general/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc Your gateway to Health Tue, 15 Feb 2011 03:57:44 +0000 hourly 1 By: HealthQuote360.com http://healthsgateway.com/general/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc#comment-71 HealthQuote360.com Mon, 30 Jun 2008 20:41:59 +0000 http://healthsgateway.com/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/525/#comment-71 Multiple member LLC's can be taxed 3 different ways: 1. As a partnership 2. As a C corporation 3. As an S Corporation The deductability of health insurance premiums for your LLC will depend on which of the 3 types of entities your LLC elected to be taxed at (the default is the partnership form of taxation). Typically, you will be able to deduct 100% of your health insurance premiums although there are some specials considerations for owner/officers of S Corporations who own more than 2% of the company. If you speak with a CPA or qualified tax advisor they should be able to give you plenty of good tips. One thing that you may want to mention is a medical reimbursement plan. Here is some more detail on medical reimbursement plans: Multiple member LLC’s can be taxed 3 different ways:

1. As a partnership
2. As a C corporation
3. As an S Corporation

The deductability of health insurance premiums for your LLC will depend on which of the 3 types of entities your LLC elected to be taxed at (the default is the partnership form of taxation).

Typically, you will be able to deduct 100% of your health insurance premiums although there are some specials considerations for owner/officers of S Corporations who own more than 2% of the company.

If you speak with a CPA or qualified tax advisor they should be able to give you plenty of good tips. One thing that you may want to mention is a medical reimbursement plan. Here is some more detail on medical reimbursement plans:

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