Premiums paid for other health and dental plans:

Using an Olympia Health & Dental Plan, you can have your business pay for private health and dental insurance premiums – including payroll deductions for group health and dental plans!

Personal (Private) Health & Dental Insurance Premiums:

As a small business owner, it can be difficult to obtain group health and dental insurance coverage. In many cases, insurance companies will deny coverage based simply on the size of your business, and the fact that you do not have enough employees (based on their guidelines) to qualify for a “group” insurance plan.

As a result, many small business owners (prior to becoming aware of the Olympia Health & Dental Plan option) sign up for personal or “family coverage” insurance plans. If these premiums are currently being paid by you personally, you can use those costs as a business deduction by submitting a claim through the Olympia Health & Dental Plan.

It is entirely up to you whether you choose to switch over entirely to the Olympia Health & Dental Plan, or use a combination of both types of plans.

Group Health & Dental Plans (including spousal payroll deductions):

Many small business owners will have a portion of their family’s health and dental expenses covered by their spouse’s group insurance plan offered through their employer. In many situations the premiums will be paid in part (or in full) by the employees through payroll deductions. If you have an Olympia Health & Dental Plan in place for your business, you will be able to use those payroll deductions as an expense for your own company – even though the insurance plan is offered through your spouse’s employer. To take the deductions one step further, any portions of health and dental expenses that are not covered by the insurance plan can be claimed (deducted) through the Olympia Health & Dental Plan.