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"STOP Buying Health Plans and START Buying Health Insurance!"
This book is a guide with the latest techniques and strategies that show you how to save thousands on your group health insurance program.
CPA's - We are approved by both the NJ & NY Boards of Accountancy to provide CE credits to CPAs on HDHP/CDHC
Section 125 Plans
Section 125 of the Internal Revenue Code allows employees to pay their benefit plan contributions with pre-tax dollars.
Employees do not pay federal, state* and FICA taxes and employers save FICA and federal unemployment taxes.
Employees increase their take-home pay and employers reduce payroll taxes. A win-win situation!
For Example:
A company has 20 employees (10 single, 10 families) and they are required to pay 20% of the health plan cost.
| Employee Savings: | Single | Family |
|---|---|---|
| Monthly Contribution: | $70.00 | $140.00 |
| Estimated Tax Savings | -$17.50 | -$35.00 |
| Net Contribution | $52.50 | -$105.00 |
Employer Savings: Annual Employee Contribution $25,200.00
Estimated Tax Savings $ 2,016.00
(FUTA, FICA, Medicare)
Employees save 25% of their cost and the employer saves more than $2,000.00 per year.
* Except New Jersey residents
Consumer-Directed |
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