Employee Benefits

Employee Benefits

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		Employee Benefit Consulting This new reimbursement tool begins a paradigm shift in how health care will be funded. Let us assist you in the implementation of cost saving programs for your company. Health Reimbursement Arrangement (HRA) Section 125 Flexible Spending Account (FSA) Health Savings Account (HSA) See below for explanation!
		ALL PRESENTATION DOCUMENTS, CONTRACT AND FORMS ARE EASILY AVAILABLE IN HERE (PASSWORD PROTECTED FOR OUR CLIENTS)
		It all comes down to money and benefits
		• • • • Health Reimbursement Arrangement (HRA) An HRA § 105, is an IRS qualified plan that allows employers to reimburse defined health care expenses to employees HRA reimbursement is not wages to employees, and Is a business expense to the employer HRA dollars are completely tax-free The HRA has no requirements for a qualified health plan HRA Reimbursement Can be targeted to specific categories or cover any qualified health expense based on IRS Section 213(d) Is employer owned and therefore is not portable has no cash value to an employee paid only on qualified event can allow a roll-over of unused dollars Click Here for Q&A
		Section 125 Flexible Spending Account (FSA) A Cafeteria Plan established with the assistance of GMA reduces your taxes and could enhance your benefit package. How? By allowing you to pay for certain benefits such as: 1.Employee contribution toward group or individual medical insurance premiums. Amounts for medical expenses that are not covered by your other insurance (such as deductibles or copayments). Day care for a dependent child, disabled spouse or dependent parent. 2. 3. You can set aside certain amounts of your salary, before taxes, to pay for these benefits, therefore, reducing your taxable income, therefore, reducing your taxes. In some situations, this could increase your take home pay, due to the reduction in payroll taxes. The GMA program is intended to assist an employer in establishing a Cafeteria Plan that qualifies under Section 125 of the Internal Revenue Code. This qualification means you are entitled to pay for selected benefits with pre-tax salary dollars. Click Here for Q&A
		Health Savings Account (HSA) Some call it a “Medical IRA” Employees payroll deduct pre-tax dollars into a reimbursement account Employers also can contribute (optional) These dollars can be used to pay for any qualified medical, dental or vision expense - based on IRS Section 213(d) Health Saving Accounts Require: A Qualified Insurance Plan High Deductible, Catastrophic Insurance No Co-pays for Rx or Office Visits No other insured coverage (even spouse) HSA is employee owned and portable HSA dollars are held in a trust The HSA has cash value (with penalties)