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Monthly Archives: April 2011

A Section 125 Plan Helps Reduce Employees’ Health Insurance Premiums

Almost every modern day employer is looking for value and efficiencies to streamline their operations.  Second only to payroll, the cost to provide a dynamic group health insurance benefit is becoming more difficult each year.  According to a 2010 study released recently by Kaiser, health insurance premiums are expected to increase at an average rate of 11.7% for groups with fewer than 500 employees.  Based on the increasing cost in healthcare more and more employers are focused on sharing a larger burden of this increase with their workers.  This same study suggests 23% of all employers are increasing the workers share of premium associated with these benefits. [read more...]

April 22nd, 2011 • 0 Comments

Employers Should Revisit Benefits As Jobs Picture Improves

The jobs report released on April 1st was no joke:  employment numbers are the best they’ve been in years.  The U.S. economy added over 200,000 jobs, and the unemployment rate dipped to 8.8 percent.  The rate had been hovering in the 9 to 10 percent range since 2009.  This is one more optimistic sign that suggests the economy is improving.  While that’s great news for your company, it also means that your top talent now has the best opportunity in years to look at other options for employment. [read more...]

April 20th, 2011 • 0 Comments

Does your Company Deduct Insurance Premium pre-tax?

IRS Rules govern Section 125 POP Plans, also called cafeteria plans.  While these provide your employees access to great benefits, and can provide your company with payroll tax savings, it’s important to stay in compliance with the rules.  Your company must have a written document that includes current language and must be updated regularly as legislation is changed.  If the IRS finds your plan to be out of compliance, the entire plan could be invalidated, negating all of those tax savings. [read more...]

April 13th, 2011 • 0 Comments

Better Benefits Attract Better Workers

You may think that getting and keeping top-notch talent for your company is all about the paycheck, but a recent study says a variety of available benefits are a big part of the deal.  WellPoint Research reported recently that some 83% of American workers think better of employers who offer voluntary benefits.  The study also reported that 90% of job seekers consider employer benefits options “important” to their choice of where to work.  And 60% of workers said they’d stay put in a current job with a well-communicated benefits plan, even if offered more money to work elsewhere. [read more...]

April 5th, 2011 • 0 Comments

Massachusetts Employers – Use TaxFreePremiums.com to manage your Section 125 Plan

Massachusetts law requires employers with more than 11 full-time equivalent employees to establish a Section 125 Plan, or risk paying a Free Rider Surcharge if your employees use state-funded health care. [read more...]

April 1st, 2011 • 0 Comments