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Cafeteria Plans (125 Plans)

An employer can set up a Cafeteria Plan to reimburse employees for selected medical expenses. Cafeteria Plans are regulated by IRS Section 125. Employer Cafeteria Plans are pre-tax benefits for employees and may include Flexible Spending Accounts, DCAPs, Adoption Assistance Programs, Premium Conversion Plans, etc.

Flexible Spending Accounts (FSA)

Employers may offer a health Flexible Spending Account (FSA) as part of their employee benefits programs. The FSA is funded by contributions from the employer and/or from employee salary reduction. The money can be used to reimburse employees for expenses related to medical insurance deductibles and co-pays, out-of-pocket medical treatments or supplies, and dependent healthcare expenses.

COBRA Administration

COBRA is a federal law appearing in three places: the Employee Retirement Income Security Act (ERISA); the Internal Revenue Code (Code); and the Public Health Service Act (PHSA).These laws allow qualifying employees who lose their health benefits through termination or a “qualifying event” to continue with the group health plan for a limited time. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) says that any company with 20 or more employees must offer a “temporary continuation” of group health and Section 125 benefits.

Health Reimbursement (HRA)

An HRA may be funded only by employer contributions. Money in the account may be used to reimburse employees for deductible payments and other out-of-pocket health costs. Funds in a Health Reimbursement Account may roll over to the next year according to the policies of the employer.

Qualified Transit/Parking Accounts

The QTP is an employee benefits account regulated by IRS Section 132. The purpose of this pre-tax account is to reimburse employees for eligible transit and parking expenses, up to the IRS statutory limit.

Tuition Reimbursement

IRS Code §127 allows employers to provide certain educational assistance to their employees on a tax-free basis, meaning that amounts paid or incurred by an employer under a qualified educational assistance program are deductible by the employer and are excludable from the employees’ taxable income.

Wellness Accounts

Employer-sponsored Wellness Accounts are offered as an incentive to promote employee health and activity-based programs. These accounts are unique to every employer.

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