Why wouldn't you use a Sec. 105(b) plan? Wouldn't that be easier in your single employee situation?
I just set one of these up last week using Core Documents after consultation with my accountant and asking a lot of questions about ACA compatibility. Short answer: they're totally legal for one-employee LLC S-corps, even if that employee is the owner. I set mine up with an HSA-compatible deductible ($1300 individual, $2600 family) so I can save the max in my HSA and also reimburse myself for most expenses from the HRA.
This $149 investment instantly saved me almost $2,500 on taxes because we already maxed our out of pocket limit for the year. Bonus: both reimbursements and HSA contributions count as W-2 box 1 income but they don't count for FICA, so I also get to contribute an additional 25% of my reimbursements and HSA contributions to my solo 401(k).
I haven't looked at the plan document you reference, but in general I think that's the way they work. And I agree that a one person business operating as an S corporation can do this under Obamacare because there's no group plan here.
One other thing I think you need to look at is whether you have enough box 5 earnings on your W-2 to get the self-employed health insurance deduction. I.e., if you have (say) $20,000 in box 1 but $0 in box 3 and box 5, you save payroll taxes but I think you'll lose your self-employed health insurance income tax deduction.
I mention this because sometimes people set up these Sec. 105(b) plans (aka healthcare reimbursement arrangements) in a side hustle to pay healthcare expenses... the gambit might work to save payroll taxes. But it doesn't save income taxes.
BTW, just to go way out into the weeds on this, a small business might also want to consider the new qualified small employer health reimbursement arrangement now available:http://evergreensmallbusiness.com/qualified-small-employer-health-reimbursement-arrangement-rules/