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Reply to "Is anyone using a POP plan to pay for their nanny's insurance?"
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[quote=Anonymous][b]Please see IRS publication 969.[/b] You can use what the IRS calls an HRA - Helath Reimbursement Arrangement. There is nothing to 'set-up'. All you are required to do is maintain a copy of your nannies current insrance card on file. There are no other record-keeping requirements. HomePay by Breedlove/Care.com, GTM and HomeWork Solutions all know how to do this through their nanny payroll services. And if you do your own payroll it is as easy as writing a separate check to your nanny each month for the amount you want to reimburse. You can reimburse your nanny 100% (or less) of her monthlyinsurance premiums and she will receive the money TAX FREE and you will not pay any payroll tax on the reimbursement. I haven't updated this PDF FAQ in a while, but the same rules apply now: http://www.4inhomecare.com/HealthIns_Benefits.pdf Hope that's helpful to you. Michael Gerard Executive Director Childcare Solutions www.4inHomeCare.com[/quote]
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