AgriPlan & BizPlan

It is a common fact that small business owners miss out on considerable savings in health costs. AgriPlan/BizPlan offers a means for self-employed individuals to deduct 100% of their health costs, given they qualify. Self-employed individuals who employ a spouse in the business and offer the employed-spouse a medical benefits package qualify for AgriPlan/BizPlan. The reimbursement package covers any costs incurred by the employee and any family members (including the employer him/herself ). The end result is a 100% deduction for the employer’s family’s medical costs, including health insurance and dental insurance premiums, qualified long-term care insurance, uninsured medical, dental and vision care expenses, and life and disability income insurance premiums.

FlexSystem

A FlexSystem Section 125 Cafeteria Plan provides a way for employees to select certain benefits normally paid on an after-tax basis and, through salary reduction, pay for these benefits on a pre-tax basis. The most common benefits include health insurance premiums, out-of-pocket medical expenses, and dependent care expenses. Section 125 will benefit employers with reduced payroll costs and an enhanced ability to recruit and retain quality employees. Meanwhile, employees enjoy the increase intake-home pay and the option to choose from benefits that address their individual needs. FlexSystem’s third-party administrative service offers daily processing and direct deposit of requests for reimbursements, complete on-line management of the Plan, and toll-free enrollment assistance.

DirectPay

DirectPay is a third-party administrative service for employers who implement a Health Reimbursement Arrangement (HRA). HRAs allow employers to set aside a specific amount annually for employees to use to pay for health care expenses as defined by the Plan. All employer contributions to the Plan are tax deductible to the employer and are tax-free to the employee. Unique in the industry and available only to Clients is the DirectPay Funding Arrangement. This distinctive fund management program allows employers to advance claim payments to employees before the full reimbursement amount is present in their account. DirectPay and not the employer fronts the necessary funds to reimburse employee claims!

COBRAToday

In 1985, Congress enacted continuation of health care coverage requirements, commonly referred to as COBRA. COBRA stands for the Consolidated Omnibus Budget Reconciliation Act and was designed to protect certain former employees and their dependents when they experience a loss of coverage under a group health plan. COBRA provides continuation of health coverage, that otherwise would have been terminated due to certain qualified events. With COBRAToday’s third-party administrative services, you and your employees receive complete compliance for all your COBRA-required administrative procedures and regulations, full reporting of accounts, access to a trained staff and technical support, and a simple Setup Kit that helps you establish your COBRAToday account within days.

RetireRite

RetireRite is a business retirement program available through your financial professional. This unique, low cost program provides your business with plan design consultation, IRS compliance, and plan operation support. The benefits of RetireRite include: flexible plan documents, unrestricted self-directed investments, calendar year or fiscal year plans, integration with Social Security, employee communication support, controlled required contribution, low-cost plan administration, and IRS compliance support.

For more information call us at 847-263-0303. All plans are administered by TASC.