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Premium Only Plans (POP)

Section 125 of the IRS Code allows employees to pretax certain insurance premium costs.  Employees do not pay federal, state Medicare or Social Security taxes on the funds they pretax from their paycheck.  Employers do not have to pay Medicare or Social Security taxes on the funds.  There are specific legal requirements for the Plan including Plan Document, Summary Plan Description, and compliance testing.

Insurance premiums contributions made by employees can be pretaxed as part of a Premium Only Plan.

  • Medical Insurance
  • Dental Insurance
  • Vision Insurance
  • Employee Life Insurance (up to $50,000 face value)
  • Disability Insurance (use caution when pretaxing these premiums)
  • HSA Contributions