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An Internal Revenue Service Ruling, Section 105, provides a tax deduction that could save thousands in medical expenses.

OFBF member benefit provider AgriPlan is a Section 105 plan, meaning farmers who legitimately employ their spouses are able to take a 100 percent tax deduction for monies spent on health care premiums and noninsured medical expenses such as vision and dental. Going a step further, AgriPlan covers expenses for premiums for dental insurance, long-term care insurance, life and disability income insurance for eligible employees and their families.

AgriPlan deductions are available at federal, state and social security tax levels. In 2003, AgriPlan filers were able to save an average of $2,450 in taxes, according to Total Administrative Services Corporation, which administers AgriPlan.

For more information, contact AgriPlan representative Clint Carter at 877-283-3868.