Name: Diamond Certified Experts: Benefits of Premium-Only Plans
Uploaded: 2021-03-04T22:13:58Z
Channel: Diamond Certified Resource

<p>MENLO PARK — <em>Bob Vinal:</em> Are you a small employer? Do you offer benefits to your employees? Do your employees contribute to their benefits? Well, if they do, maybe Section 125 of the Internal Revenue Code &#8211; known as a premium only plan, or a POP &#8211; would be a win-win situation for both you and your employees. Basically, what it does, it allows the employees to make their contributions with pre-tax dollars instead of after-tax dollars. So, it lowers gross payroll, lowering the employers liability in payroll taxes, by 7-10%. For the employee, because the money they&#8217;re putting in is pre-tax, it&#8217;s going to lower their income tax. Again, it increases take-home pay for them. So, this is a great win-win situation for all small groups who contribute. Easy to administer, easy to set it up. You should give it a try, give your employees an extra benefit.</p>


With Bob Vinal of {BR} Bay Area Health Insurance Marketing, Inc.

Video: Benefits of Premium Only Plans

Bob Vinal, owner of Bay Area Health Insurance Marketing, Inc., a Diamond Certified company, explains why premium-only health care plans can be a win-win for both employees and employers.

To learn more about Bay Area Health Insurance Marketing, Inc., visit https://www.diamondcertified.org/report/bay-area-health-insurance-marketing-inc/

To learn more about Diamond Certified and find top rated companies in your area, visit https://www.diamondcertified.org/

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