With healthcare and other benefits costs skyrocketing, you have to find ways to save. And through Section 125 of the IRS tax code, it’s a win-win. You can effectively give your employees a raise while you lower their—and your—taxes, with a Premium Only Plan or a Flexible Spending Account. Choose one (or both) of these Section 125 options through Ovation:
With a POP plan, your employees can use pre-tax dollars to pay health insurance copayments, with big benefits for both of you.
An FSA plan allows your employees to deduct a specified amount of pre-tax dollars from their paychecks each pay period. Depending on which type(s) of FSA accounts you offer, they can apply those dollars toward qualified expenses. There are three kinds of FSAs:
An FSA is similar to a POP—both you and your employees save on taxes. Your employees enrolled in an FSA use a prepaid debit card, so there are no receipts to hand in or checks to write. We handle everything online.
Plus, no matter what types of S125 Administration plan(s) you choose, we’ll set everything up, handle all the details and offer annual enrollment to your employees. You just smile and enjoy the tax savings—along with your new-found popularity among your employees.
To get started, just give us a click or a call at 877.673.1777.