NARAYANAN MOHANAN

Thanks for your comments Effen, TWM ERISA Attorney, truphao. TWM ERISA Attorney - can you please send an email (narayanm28@gmail.com) for the list of established plan administrators for small businesses with 1 employee organization and who could be cost effective for DBP with 401(h) plans please.

Experts - I have a key question and is exploring opening a 401-h plan as part of my Defined benefit Plan by contributing up to 25% of the amount for next 5 years. I am a single employee organization with me and my spouse as managing members with me as the only working employee. I have a specific question on the benefits. I am currently 56 and my spouse is 49. I plan to retire at 62 along with my spouse at 55 after 5 years. Hence, I will need to buy private health insurance for 3 years for self and 10 years for my spouse till we both become eligible for medicare at 65. Can the balances in my 401-h plan be used pay the health insurance premium for Obamacare/private health insurance during this period since we will not be working as early retirees and will need health insurance coverage prior to getting medicare. I saw the benefits usage for 401-h include health insurance premiums for 401-h but was not sure whether it is post 65 years or prior to medicare applicability. Please clarify on this detail to enable me to make a decision and move forward on this.