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Monthly Archives: July 2012

Are Your Plan Documents in Compliance?

Many business owners and hr professionals do not know about Section 125 Premium Only Plan Documents until 1 of 2 events happen. One of the most common reasons is the simple fact that they are being audited and found Section 125 on a list that they are following to prepare for the audit. The other cause is when the company's payroll provider asks if the company has a Section 125 Plan in place. Many times the company representative will respond, "What's that?" This leads to many follow-up questions and research. We will be answering those follow questions in the weeks to come. [read more...]

July 23rd, 2012 • 0 Comments

States Requiring Section 125 Plans

There has been a growing trend for states to require employers to provide their employees with a Section 125 Cafeteria Plan. Since the Supreme Court has upheld the Patient Protection and Affordable Care Act, expect more states to put such requirements into law. At this point there are only 5 states requiring Section 125 Plans of employers including: Connecticut, Massachusetts, Minnesota, Missouri, and Rhode Island. [read more...]

July 9th, 2012 • 0 Comments