My wife and I own a C corp registered in Virginia. I'm the sole employee. In a few months I'm going to start Medicare. Can my C corp pay both the Medicare premium as well as any supplemental health insurance to cover what Medicare does not pay?=====>>In general,
when you form your C corp to own and operate your business, you’ll work as its employee. As you formed a regular “C” corp, the corp can provide you with health insurance as an employee fringe benefit and deduct the cost as a business expense. And you don’t have to pay any tax on the amount of the insurance premiums because they qualify as a tax-free employee fringe benefit.
In other words are they 100% deductible to the corporation?==>Correct;your corporate bylaws MAY state that the corp, th e ER, will pay health ins premiums and all out of pocket medical costs for salaried EE aslongas the corp pays for this for all of its EE. C Corp can deduct health insurance premiums for an individual health plan that the EE has procured on his or her own. C corp must typically pay for at least half of the coverage, while the EE contributes the remainder. You, as an EE, do not pay taxes on money the ER spends on your behalf, but the ER can take a tax deduction on any premiums it pays to provide health coverage for its EE to include ER-EE. If theER sponsors a plan and pays the premiums, theER can deduct the cost of premiums as an ordinary business expense.