Originally Posted by smokin goose
It's pretty complex. It took me awhile to wrap my head around it. I haven't sold it. Just wondering if anybody here had. I don't even know if I could explain it correctly.
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If you've sold/enrolled it, you would know.
Your comment above (If you've sold/enrolled it, you would know) is not true. A Section 105 plan can be structured in a variety of ways. Generally speaking, it refers to Section 105 of the IRS code and allows an employer to reimburse employees for qualified medical expenses. Usually designed within a self-funded health plan for the employer group. It can also be used for HRA
's. The origins of these plans goes back 50 or so years as a vehicle for one man group.
The use of a loan feature and the credit life insurance is new to me and makes me believe this is being used for something other than medical self-funding.
Also, Section 105