CAFETERIA BENEFIT PLANS
The Cafeteria Plan, outlined in Section 125 of the Internal Revenue Code, is a very versatile benefit package determined solely by the employee. Under a cafeteria plan, employees enjoy non-taxable benefits and they can elect to direct a portion of their salary into the plan to be used to pay for expenses related to a number of areas that they choose, from child care to disability insurance.
Funds deducted from an employee’s paycheck to his or her cafeteria plan are non-taxable. This reduces that employee’s taxable income, which, in the end, saves them a great deal of money on procedures or other services covered by the cafeteria plan.
Section 125 Cafeteria Plans can also benefit the employer, with reductions to their FICA, plus morale increases as employees recognize the concern their employer has for them.
Employee Cafeteria Plans can offer coverage for:
- Hospitalization premiums
- Term Life Insurance (group or 5-year term)
- Disability premium & sick leave
- Supplemental Medical Premium
- Dependent Care Expenses
- Employee Paid Medical & Dental Expenses
- Flexible spending accounts
Learn More about Cafeteria Employee Benefit Plans
As flexible spending accounts, cafeteria plans are an excellent and affordable way to provide your loyal employees with an array of exceptional benefits they can choose from.
Soules Insurance Agency, LP is one of the largest independent insurance agencies in Conroe, The Woodlands, Willis, Cleveland, Huntsville and North Houston area as well as the Interstate 45 corridor to Dallas.
Please call (936) 756-0671 to learn more information on selecting a cafeteria plan for your Texas business, simply fill out and submit the online form below to receive a call and quote for your business in Conroe, Texas and the surrounding areas.