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Tax-saving benefits for your small business health plan1
Note: These options are available to both Assurant Small Group Select® and Assurant® Self-Funded Program.
A Section 125 Premium Only Plan (POP)
A Section 125 POP can help employers lower their business expenses and help employees keep more of their own money.
Tax savings for employees
Tax savings for employers
Employees save $25 to $30 of every $100 paid for eligible premium through a pretax payroll deduction, depending on their income tax rate
If you have a Health Savings Account (HSA) plan, employees can also make contributions to health savings accounts with pretax dollars
- Employers pay less in payroll taxes because employee contributions are subtracted from taxable payroll, resulting in savings on FICA and other payroll-related taxes
- Employers save 7.65% (the FICA payroll tax match) on every dollar employees pay for eligible premium through a pretax payroll deduction
Set up these tax-advantaged plans with our administrative partners and pay reduced fees.
Health Savings Accounts (HSA)
With an HSA, your employees have their own tax-advantaged savings accounts to save for qualified medical expenses.
The advantages of HSAs include:
- Accounts belong to employees and are portable
- Both employers and employees can contribute to their HSAs tax-free up to certain limits
- Funds can be used to pay for qualified medical expenses now and in the future
- Unused funds can be invested and rolled over from year to year, even during retirement
- All contributions and interest earnings, and withdrawals used for qualified medical expenses, are free from income taxes — a triple tax benefit
A Health Reimbursement Arrangement (HRA)2
An HRA is a plan that employers make to reimburse employees for a certain amount of qualified medical expenses incurred during the year. HRAs are entirely funded by the employer and are not portable.
The advantages of HRAs are that they:
- Provide tax benefits to employers
- Lower out-of-pocket expenses for employees
- Lessen the impact of a high deductible and/or high out-of-pocket limits to employees
- Are available with a broad variety of plan designs
Already have an Employee Benefits Corporation (EBC) HRA? Access your account now
(for use by current HRA customers only)
See how a small business health plan can work for you. Request a Quote
or talk to an agent. Call 877-396-6156