Prime Benefit Solutions can provide you with options for various ancillary products related to tax savings plans. Here are several options for consideration:
Heritage 125
Heritage 125 refers to a Section 125 Cafeteria Plan that allows employees to use pre-tax dollars to pay for eligible expenses, such as medical expenses, dependent care costs, and certain insurance premiums. It provides employees with tax savings by reducing their taxable income and can help employers manage benefit costs effectively.
Executive Carve Out Bonus Programs for Medical Needs
Heritage 125 refers to a Section 125 Cafeteria Plan that allows employees to use pre-tax dollars to pay for eligible expenses, such as medical expenses, dependent care costs, and certain insurance premiums. It provides employees with tax savings by reducing their taxable income and can help employers manage benefit costs effectively.
Offering these services to your employees is crucial as it not only helps attract and retain top talent but also empowers employees to save for their future and enjoy the benefits of financial stability.
Cafeteria 125 Plans
A Cafeteria 125 Plan, also known as a Section 125 Plan or a Flexible Benefits Plan, is an employer-sponsored benefit program that allows employees to choose from a menu of pre-tax benefits. Under a Cafeteria 125 Plan, employees can allocate a portion of their salary before taxes to fund various medical benefits. By participating in the plan, employees can lower their taxable income and potentially save on taxes. Employers also benefit from reduced payroll taxes.
Offering these services to your employees is crucial as it not only helps attract and retain top talent but also empowers employees to save for their future and enjoy the benefits of financial stability.
Increased Coverage Gaps
Address the financial stress of increased coverage gaps os your employees can stay focused and productive.
Generational Shifts
Deliver the flexibility needed for different generations with healthcare benefits that ebb and flow with life stages.
Workplace Stress
Help employees deal with stress, whether they are working on-site or remote, with targete mental health benefits.
Executive Medical Carve Out Bonus Programs
We offer targeted benefit solutions that employers can provide to specific employee classes to improve retention and reduce turnover risks. Deliver the right benefits to the right people by leveraging unique supplemental plans.
Employee Retention Tax Credit (ERTC):
ERTC is a tax incentive provided under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It aims to encourage employers to retain their employees during challenging economic times, such as the COVID-19 pandemic. The ERTC allows eligible employers to claim a tax credit for a percentage of qualified wages paid to employees, offering financial relief and incentivizing employee retention.
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