The right health plan helps you recruit and retain employees, linking their interests to yours. The result? A happier, more dedicated, and healthier workforce.
Cafeteria Plans are an affordable, flexible, and popular way to offer group health insurance to your employees. A Cafeteria Plan allows your employees to choose from an assortment of benefit options. So each employee gets the kind of coverage they need.
Also known Section 125 Plans (after part of the tax code), Cafeteria Plans are popular because they allow your employees to pay for medical expenses with pre-tax dollars. That means they save on their Federal and state taxes. Your employees can also set aside pre-designated amounts during the year to pay for medical expenses that aren’t already eligible for coverage. Money can be set aside in a Flexible Spending Account, or in a Health Savings Account.
Important facts about Cafeteria Plans:
Most cafeteria plans are designed to address your employees’ life, health, and disability insurance needs. Employees can also purchase additional life insurance coverage for their dependants. And they can take advantage of non-traditional benefits, including plans that provide access to legal advice and counsel.
Setting up a Cafeteria Plan can be complicated — so working with a professional insurance agent makes good sense. When you're ready to start talking to agents, use our free group insurance quote service. With one simple form, you'll get free quotes from competing agents.