I’m under age 65 and my spouse who operates the business and also works outside our home is over age 65. Will this MERP work for us?by Tom Luker on 05/01/15
Yes, a MERP will work regardless of the age of the business owner or employee.
- As long as the non-owner spouse can be employed by the biz, any health insurance premiums covering either person that are being paid after-tax are eligible to be reimbursed.
- An added plus is that the Part A, Part B and Part D of Social Security [Hospital, Medicare and Drug Plan] coming off of the SS check is reimbursable.
- This can also be great for the business who can hire their parent or grandparent. We’ve had some clients whose parents have moved away in “retirement” but come back enough to provide legitimate employment, or actually do employable activities like a “telecommuter.”
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