Farmers, like many self-employed Iowans, are concerned about the rising costs for health care and the changing environment of health care regulations. To kick off Iowa Farm Bureau Week Dec. 2 – 8, the Iowa Farm Bureau Federation (IFBF) has added a new benefit partner to help members qualify for an average of over $4,000 in tax savings to reduce out-of-pocket and health insurance premium costs.
BASE, a third party benefit administration company headquartered in Adel, Iowa, will work with Farm Bureau members who are self-employed or small business owners to customize a benefit plan for their specific needs and ensure the plan is in compliance with government regulations. More than 70 percent of self-employed are able to qualify for tax advantaged plans, regardless of how their business is structured.
BASE will also offer exclusive savings to Iowa Farm Bureau members on these plans, providing another tool in Farm Bureau’s suite of supplemental health care benefits designed to ease the pinch of rising costs. “As farmers, we depend on our certified public accountant to provide us with every legitimate tax deduction we can get. That’s why we’ve been using the BASE Health Reimbursement Arrangement (HRA) to deduct our medical expenses each year,” said Joanne Piercy, a farmer in Lenox. “With such a great tax savings each year, we’ll continue to take advantage of the BASE HRA as long as we’re farming.”
Iowa Farm Bureau members who own a farm or business and pay for health insurance premiums or out-of-pocket health care costs or are looking to provide an additional benefit to employees should contact BASE at (866) 550-5525 to see if they qualify. For more information, go to www.BASEonline.com