Section 125 Cafeteria Plan
H R Support & Consulting Services, Inc. can provide employers with a Section 125 Cafeteria Plan designed specifically to work with the employers benefit package allowing for pre-tax employee deductions on allowable benefits for the employee's share of the cost of the benefit, saving them federal, state, FICA and Medicare taxes. The employer saves on the matching FICA/Medicare taxes.
This may be a new Plan or if needed, updating and/or amending of an existing Plan in order to remain in compliance with IRS regulations.
Third Party Administrative Services (TPA) for Flexible Spending Accounts
HRSC provides third party administrative services for Medical Reimbursement Accounts and Dependent Care Reimbursement Accounts which includes:
- Plan Documents and Summary Plan Descriptions designed specifically for each employer;
- Employee Communication materials for enrollment;
- Participant "Welcome Packet";
- Quarterly participant account statements;
- Quarterly Employer Year-to-Date Reports of participant account balances; and
- Other optional services the employer may request.