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Thoughts on Stipends

July 8, 2024by People First0

What are my thoughts on stipends? I think they’re great. Small businesses really can’t afford to provide health insurance. It’s too expensive. So, I have a lot of clients that are small businesses that offer a health insurance stipend. They pay $500 a month, they pay the employee through payroll, so it’s not on the side because the IRS won’t cover it, won’t allow that.

So you want to do it properly. But if you pay that stipend and what I explained to my clients when it comes to the health insurance is when you have the opportunity to offer health insurance, that stipend would come away because now you’re offering health insurance.

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