(Section 125 Plan Administration)
Why should an employer have a Flexible Benefits Plan?
An employer should have a Flexible Benefits Plan for two primary reasons:
1. The employer will save money.
2. The employees will save money.
This plan is a significant tax advantage for both the Employer and the Employee because:
Significant cost increases for health insurance and fringe benefits, are factors why Employers are increasing deductibles and shifting some, or more, of the premium cost to their Employees. A Flexible Benefits Plan can help Employers minimize the financial impact that these changes can have on their Employees.
HealthComp is a member of the following organizations:
1. Employers Council on Flexible Compensation
2. Society of Professional Benefits Administrators
HealthComp Flex Plans
HealthComp provides flex administrative services at our Fresno Office. Below are the following types of plans:
1. Premium Only Plan (POP), which include:
Employer Group Term Life Insurance (up to $50,000)
Accidental Death and Dismemberment (AD&D)
Short-term Disability (STD) Coverage
Long-term Disability (LTD) Coverage
2. Flexible Spending Accounts (FSA):
Dependent Care Expenses, which include:
Expenses for the care of a dependent child (12 years or under);
Expenses for the care of a dependent elder (if in your home at least 8 hours/day);
Expenses for day camp;
Housekeeping fees, if part of the fee is for child/elder care;
Expenses for the care of a physically or mentally disabled dependent
Unreimbursed Health Expenses, which include: