Tag: POP Plan

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TaxFreePremiums your Section 125 Premium Only Plan (POP) Provider

Every penny counts when you’re running a business, so why would you want to pay your attorney to create a Section 125 POP Plan document that you can generate in just a few minutes? Section 125 Plans are complex. Even the simplest IRS rundown takes multiple tries and is difficult to digest, costing you and…
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ERISA & SPD Wrap or Summary Plan Description Wrap Documents

Recently we joined forces with a company to assist in additional forms of compliance.  These compliance issues fall directly in line with the rumors of the ERISA DOL Audits.  HR Service Inc and ERISA Solutions are those companies.  The professional atmosphere, experienced employees, and customer service-oriented environment is appealing; yet the powerful and user-friendly tools/documents…
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In September the IRS issued two notices regarding the Affordable Care Act.  Notice 2014-49 describes a proposed approach for applying the look-back measurement method used to determine full-time employee status for purposes of IRS Code § 4980H in situations when the measurement period applying to an employee changes. This change may occur because the employee…
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125 POP Document Changes Summary

As explained below, the laws governing Section 125 Premium Only Plans recently changed. We have updated your plan documents to reflect these changes. Please log on to your account at https://www.taxfreepremiums.com/main/login and download the newly updated documents to remain in compliance. The new IRS Notice 1455 creates two new Section 125 mid-year qualifying events designed…
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Pretax Benefits Through A Health Savings Account (HSA)

With the new regulations and additional coverage mandates embedded in the Affordable Care Act “ACA” many experts believe we’ll see an explosion of coverage and market entrants into high deductible health plans (HDHP) coupled with Health Savings Accounts (HSA).  These plans have been popular for years and the fastest growing trend in employee benefits for…
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Have You Prepared for ACA “Obamacare”

While the passage of the affordable care act “Obamacare” celebrated its 3rd anniversary, many individuals and even small business owners are still wondering what the actual effects are on them. Well it depends……… Almost every situation and options will be treated uniquely depending on the state you live in and the employment arrangement with staff.…
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Distributing the SPD for your Section 125 Plan – It’s not just about compliance

It’s no secret that the task of government compliance with programs such as IRS Section 125 Plans has most employers jumping through some hoops.  There Department of Labor lists one of many requirements to distribute certain documents such as a Summary Plan Description referred to as SPD.   But through all of this disclosure and required…
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Who Can Take Advantage of a Section 125 POP Plan?

Federal law (Section 125 of the IRS code of 1986) allows all employers to offer their employees the option to have payroll deductions for benefits like health insurance premiums to use pre-tax dollars. Also referred to as “cafeteria plans”, the basic version is a “premium only” or “POP” plan, allowing a company to facilitate pre-tax…
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Affordable Health Care Act: Stability in a Time of Financial Upheaval

Affordable Health Care Act: Stability in a Time of Financial Upheaval The Affordable Health Care Act, a Federal healthcare reform, heralds many changes over the next three years for employers sponsoring health insurance.  With the paradigms of the health care industry shifting many businesses, especially small businesses, are hesitating to utilize the recent money saving…
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