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A Premium Only Plan, also known as a POP plan, is a popular cost-savings vehicle born out of Internal Revenue Code Section 125.
A POP plan helps reduce a company's costs by allowing its employees to pay for qualified health care premiums with pre- tax dollars. As a result, both the employer and employees have much to gain from POP plans.
Employer Benefits
For employers, the benefits of instituting a POP plan are significant:
- Employers save on payroll taxes when employees make pre-tax contributions, which ultimately decrease the amount of taxable pay.
- Premium Only Plan fees are tax deductible as a business expense.
- Tax savings often cover the entire cost of administering a Premium Only Plan.
Employee Benefits
Employees can also benefit from their company's Premium Only Plan:
- Employee contributions are made with pre-tax dollars, saving them an average of 30 percent on qualified insurance premiums every year.
- Employees' total take-home pay increases, increasing their cash flow.
Choosing the Right POP Plan Administrator
We understand the importance of successfully implementing Premium Only Plans. Our POP plan is easy to administer, inexpensive, and can be seamlessly integrated it into your existing health services offering.
Going Above and Beyond
Allegiant along with its partner Ceridian is committed to providing high-quality customer service to thousands of clients nationwide. With rapid response and careful attention to your needs, Ceridian is committed to providing the highest level of service in the industry.
To learn more about our Premium Only Plans, Contact Us. |
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