Tax Advantaged Plans
Benefitplace is working to provide an Informational Resource Portal for Brokers, Agents and Consultants; Benefits-Related Services; Employers and Employees to better understand the various IRSC Tax Plans that impact the Employers and Employees as well as the Service Providers that support the Plans.
When properly implemented, and maintained in Compliance, these plans provide savings to the Employer and Employee while allowing Employees to strengthen the quality and number of coverages in their Benefit Portfolio.
These Plans Include: (Click Below for Service Providers)
Premium Conversion (Section 125) – Employees pre-tax their contributions to qualified Benefit Plans
Reimbursement Accounts:
Medical Reimbursement Accounts – Employees pre-tax qualified medical
expenses
Dependent Care Reimbursement Accounts – Employees pre-tax part
of qualified child and adult care expenses
Transportation (Commuter) Reimbursement Accounts –
Employees pre-tax part of qualified commuter and parking expenses.
HSAs & HRAs - Employees create tax-advantaged accounts created to
pay for qualified medical expenses in conjunction with high-deductible health
plans (HDHPs) - an innovative feature of consumer-driven health plans
(CDHPs).
Retirement Plans - Plans designed to assist Employers and Employees in
planning for retirement
Seven reasons Employers offer Pre-Taxation of Qualified Benefit Plans:
1) Pre-taxation is one of the most requested Employee Benefits
2) Employers Appreciate the Opportunity to Reduce Payroll
Taxes
3) Savings help pay for Benefits Administration
4) Employees Save on Essential Services
5) Employers Attract and Retain Employees
6) Employers can Better Manage the Rising Costs of Plans and
Services
7) Employers and Employees enjoy Tax Savings and Enhanced
Benefits


Click Below
See
Benefit Plan Choices
Below
(Click on Left Column Buttons to
"See Benefit Plan Choices Below")
IRSC
Tax Plans Reduce Costs
| · |
Reduce Employee Benefit Costs |
| · |
Reduce Organization Taxes |
| · |
Increase Net Profits
|
See: "PRE-TAX PROVIDERS" for a Directory of Vendors
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