Premium Only Plans (POPs)

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.
  • 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

Administrative

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