Document For $99 To Reduce Payroll Taxes

The Section 125 Premium Only Plan (POP) Document complies with IRS, DOL, and ACA requirements for employers to allow their employees to eliminate payroll taxes on their portion of group health and supplemental insurance premium. The IRS requires that the Plan be in writing. The Department of Labor (DOL) requires that you provide each employee participating in the Section 125 Premium Only Plan with a Summary Plan Description (SPD) and forms to enroll, select premium elections, and make changes when needed. 


Section 125 Premium Only Plan

This saves the employee up to 40% in payroll and FICA taxes. The employer also saves in reduced matching FICA (SS & Medicare) taxes of 7.65%. The cost of setting up the plan document is recouped by the employer quickly. The employer saves $76.50 on every $1,000 in premium diverted through a Section 125 Premium Only Plan.

These additional options are available on all Section 125 POP document order forms:

The Health FSA Plan can be added to reimburse out-of-pocket medical, dental, vision, etc. tax-free,

The Dependent Care Assistance Plan FSA Plan can be added to reimburse daycare expenses tax-free at work,

The HSA Module to pretax HSA bank savings tax-free at work,

The Deluxe Binder option is mailed USPS plus the PDF emailed version normally the same day.

The only reason to update the basic $99 Section 125 POP document in the future (for just $89) is if the IRS, ACA, or DOL Code changes, or the employer changes plan eligibility criteria, or once every 5 years.  The Department of Labor requires that all employees receive an updated SPD at least every 5 years. Core Documents will contact you if the IRS, DOL or ACA Code changes sufficiently for your Plan Document to be amended and updated.

Core Documents’ clients will amend and restate (update) their plan document for one of the above reasons every 3 to 5 years. This is the most cost-effective way to maintain the IRS written plan document requirement and comply with the DOL requirement to provide an SPD to every employee participating.

See a more extensive Q&A webpage with Short Video:   www.Core125.com

Section 125 POP document brochure and order form:  https://www.coredocuments.com/wp-content/uploads/2021/12/Core-Section-125-Premium-Only-Plan-Document-Forms.pdf

Or, use the encrypted secure online order form:  https://www.coredocuments.com/user/form125.php

Core Documents has been providing employers with IRS, DOL and ACA-compliant Section 125 Premium Only Plan (POP) documents for over 25 years with 70,000+ satisfied plan document clients.

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