How Your Staff Can Save 20-40% on Health Services and Childcare
| posted in BlogONE OF the most underused employee benefits available is the “cafeteria” plan – which can benefit both the employer and the employee. These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. When their workers’ taxable income is reduced, it increases their take-home pay. This in turn can benefit you as an employer as you won’t have to pay FICA or workers’ comp premiums on those dollars. Essentially, what you are doing by offering a cafeteria plan (also known as a Section 125 plan under the Internal Revenue Service code) is…
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