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