Core Documents, the nation's primary source for affordable Section 125 & HRA Plan Documents, announces they've developed a special $99 Section 125 Premium Only Plan Document to address the requirements of the new Massachusetts Commonwealth Connector (the Health Connector) regulations. See more information at www.Core125.com.
Section 125 Premium Only Plans allow employees to pay for health insurance premium with tax-free income. Employees save approximately 30% in income taxes, and employers save an additional 7.65% in matching FICA tax.
As the July 1, 2007 deadline to comply looms on the near horizon, we've seen a lot of confusion in the marketplace about specific Health Connector employee eligibility requirements, as well as special excluded classes of employees. The Health Connector also includes provisions that will allow employees to pretax individual health insurance premium purchased outside the group.
Core Documents has addressed these concerns and amended their regular plan documents to meet the specific needs of the new Massachusetts Health Connector regulations. All Plan Documents sold to Massachusetts businesses will receive this new amended plan design.
Core Documents also offers employers additional benefit plan options that can be combined with the Section 125 Premium Only Plan which include:
- Health Flexible Spending Accounts that allow employees to set aside a portion of their income tax-free to pay for un-reimbursed medical expenses. www.CoreFSA.com
- Dependent Care Flexible Spending Accounts that allow employees to set aside up to $5,000 annually for childcare expenses while the employee works. www.CoreFSA.com
- Section 125 Premium Only Plans with an HSA Module that allow employees to pretax their HSA savings component for additional tax savings. www.CoreHSA.com
- Health Reimbursement Arrangements or HRA Plans that allow employers to establish numerous plan design options to reduce the cost of providing health benefits to employees. www.CoreHRA.com
See Core Documents at http://www.CoreDocuments.com and the specific webpage for the Section 125 Premium Only Plan at http://www.Core125.com, or call a Core Documents' consultant at 1-888-755-3373.