First,
choose the Plan or combination of Plans that
meet your needs from the following 8 options:
Health FSA
- $149 one-time setup fee
Health Flexible Spending
Accounts allow employees to use pre-tax
dollars to pay medical bills not covered
by their insurance. This plan can be standalone
or offered in conjunction with a Section
125 Premium Only Plan or Dependent Care
Assistance Plan. There are no limits on
the amount that can be put aside in a
Health FSA however most employers limit
the amount to either $2,000 or $5,000
annually. Amounts in an FSA can not be
carried forward to the next Plan Year.
If amounts are not used they will be lost.
Dependent Care
Assistance Plan (DCAP) FSA - $149 one-time
setup fee
Dependent Care Assistance
Plan (DCAP) Flexible Spending Accounts
allow employees to use pre-tax dollars
to pay dependent/adult care expenses.
This plan can be standalone or offered
in conjunction with a Section 125 Premium
Only Plan or Health FSA. Single employees
can set aside up to $2,500 and married
couples can set aside up to $5,000 annually.
Amounts in an FSA can not be carried forward
to the next Plan Year. If amounts are
not used they will be lost under the use-it-or-lose-it
clause.
Premium Only
Plan and Health FSA Combo - $248 one-time
setup fee
The Premium Only Plan (POP)
and Health FSA combination allows employees
to pretax insurance premium and establish
a Health Flexible Spending Account that
allows employees to use pre-tax dollars
to pay medical bills not covered by their
insurance.
Premium Only
Plan and Dependent Care FSA Combo - $248
one-time setup fee
The Premium Only Plan (POP)
and Dependent Care Expense Reimbursement Plan
combination allows employees to pretax insurance
premium and establish a Flexible Spending Account
to reimburse dependent care expenses incurred
as a result of employment.
Health FSA
and Dependent Care FSA Combo - $298 one-time
setup fee
The Medical Expense Reimbursement
Plan (MERP) and Dependent Care Reimbursement
combination allows employees to establish a
Flexible Spending Account to reimburse medical
expenses not reimbursed through medical insurance
and reimburse dependent care expenses incurred
as a result of employment.
Full Cafeteria
Plan - POP, Health FSA, Dependent Care
FSA - $349 one-time setup
The full Cafeteria Plan
includes all three, Premium Only Plan
(POP), Health FSA, and the Dependent Care
Assistance Plans outlined above. This
option allows you to save $48 by combining
all 3 plans together in one document.
For Small
Employers with less than 3 employees:
Section 105
HRA for the Self-Employed- $99 one-time
setup fee
The Section 105 HRA for
the Self-Employed is an employer funded
program to reimburse insurance and medical
expense normally to very small companies,
or for family members in small Mom and
Pop buisnesses. For standard HRA Plans
go to
CoreHRA.com
