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Tag: Section 125 Plan

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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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Proposed Changes to Cafeteria Premium Only Plan Elections & Look-Back Period

PROPOSED CHANGES TO CAFETERIA PREMIUM ONLY PLAN ELECTIONS & LOOK-BACK PERIOD 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…
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Use Your Section 125 Plan as a Recruiting Tool

Benefits matter a great deal when it comes to recruiting and retaining quality candidates yet many companies don’t use that to their advantage. They’ll spend a fortune on all their offerings but fail to highlight it in their recruiting material and even worse make it too hard for employees to take advantage of the benefits…
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Section 125 Plan Compliance-You Need A Professional

When every penny counts for your business, it’s tempting to think you can save a few bucks by doing everything yourself. By letting www.taxfreepremiums.com handle your compliance housekeeping you can reap enormous dividends! The laws covering Cafeteria Plans are pretty complex, and even the simplest IRS rundown takes a couple of tries to understand. Does…
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Why Should I Have a Section 125 Plan?

As a business owner, a good way to provide health care benefits to your employees is with the establishment of a Section 125 Plan.   The plan is named after title 26, Section 125 of the Internal Revenue Code where cafeteria plans are specifically excluded from the calculation of gross income for federal income purposes.…
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