The key to pre-tax
Why have a Cafeteria Plan?
By offering a 125 plan, an employer can offer eligible employees the ability to pay their portion of premium for health benefits on a pre-tax basis and ultimately lower earnings subject to income tax.
It is a separate written plan, maintained by an employer for its employees. The plan must describe the benefits and establish the rules for eligibility and elections.
Eligible benefits include:
- Major Medical, Dental, Vision
- Group Term Life
Agent partners of LeClair Group can take advantage of a no-cost option to provide your clients through Further.
Further℠ (formerly SelectAccount) is a national leader in health care spending account administration, serving more than 28,000 organizations, including corporations and small businesses, labor unions, retirees and groups in the public sector. Further provides HSAs, FSAs, HRAs, VEBA accounts and commuter benefit and custodian services.
Advisors who become appointed with Further, can get paid for the lifetime of the account they create for their clients. Click here to learn more about Further.
Contact your Relationship Manger at LeClair Group for more information and to ensure that your clients remains compliant.