Premium Only Plans (POPs)

AN EXCELLENT SOLUTION FOR SAVING PRE-TAX DOLLARS ON GROUP INSURANCE PREMIUMS

Overview
Premium Only Plans (POPs) allow employees to pay their share of premiums for group health, dental, vision and term life insurance on a pre-tax basis through salary reduction.

What You Need To Know

  • Employees save on federal and state income tax, along with FICA and Medicare taxes (approximately 30%)
  • Employers save on FICA and Medicare taxes (7.65%)
  • Must have a written Plan Document
  • Participants are required to receive a Summary Plan Description
  • In some cases, Form 5500 is required

Let us exceed your expectations. Contact Jen Burnett at (888) 388-1040 to learn more.

Resources

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