Health Insurance Deductions NJ | Open Enrollment Strategy

Health Insurance Deductions NJ — Make Open Enrollment Count

Each fall, small business owners review coverage options — but few realize open enrollment is also a prime time for health insurance deductions NJ planning.

Here’s how to make every premium dollar count.

Step 1: Evaluate Deductibility

• Self-Employed/LLC: Premiums are deductible on your personal return if you have net profit.

• S-Corp Owners: Must pay or reimburse premiums through the business and report on the W-2.

  
  

Step 2: Compare Plan Types

• Traditional Health Plans: High monthly cost, predictable coverage

• HSA-Compatible Plans: Lower premiums, tax-deductible contributions

• Group Plans: Allow deductions at the business level

Step 3: Time Premium Payments

Prepaying December premiums before year-end can increase this year’s deductions. Coordinate with your CPA before doing so.

CPA Tip:

A proactive health insurance deductions NJ strategy often yields hundreds or thousands in additional savings — especially for S-Corp owners.

Want a Tax-Efficient Health Insurance Setup?

Gregory Monaco, CPA LLC in Livingston helps small businesses align open enrollment choices with year-end tax planning.

We’ll help you structure deductions correctly and stay IRS-compliant.

→ Book a Free Consultation • Bookkeeping & Accounting • Tax Preparation & Planning

Gregory Monaco, CPA | Livingston NJ (serving NJ + virtual nationwide)