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Automatic Document Solution

Many states legally require employers to sponsor a Cafeteria or Premium Only Plan (POP) if their employees pay any portion of their health insurance premiums.

With a POP, employees’ health insurance premium contributions and out-of-pocket medical expenses are automatically deducted from their paychecks before income taxes are taken out.

Often businesses misplace or fail to realize the need for compliance documentation to be up to date even though they are currently deducting their employees’ premiums pre-tax.  In the event of an audit this could lead to expensive fines of $100.00 per day for non-compliance in addition to costly legal fees for initial and periodic amendment filing.

To assist in aligning financial sustainability, experts have created www.taxfreepremiums.com, a trailblazing, first of its kind website which pairs the experience of industry experts and technology to deliver a solution for Attorneys, CPA and Tax Professionals, Payroll Companies and Insurance Agencies.

The goal was to create an innovative web compliance tool that seamlessly created and updated all required POP documentation automatically and electronically for businesses in a cost effective way.  Ryan Bingham, co-founder of My Compliance Solution believes “web-based document creation and delivery is the best method to provide business owners with the tools they need to keep on track”. We’re proud to assist professionals in tracking, monitoring, and delivering their clients Section 125 POP documents for a low annual fee of only $99 per year for unlimited updates. We have spent years researching the best technology platform and have built something we’re excited to release to the industry.