Premium only plans, a cost-saving healthcare strategy, is offering employers in all fields of business the opportunity to creatively and efficiently promote employee retention. Through the section a 125 POP plan, employers are empowered with the ability to render the costs of sponsored health insurance more affordable while also increasing the accessibility and range of benefits available to employees. With the current market in a state of flux and the American economy struggling to recover, the dynamics of competitive business have become more cut-throat than ever; acquiring and maintaining a staff of knowledgeable, talented employees provides employers the foundation they need to remain competitive. Premium only plans, a tax-free approach to sponsored health insurance, give businesses the tools they need to attract and keep key employees.
As the price of healthcare premiums have risen more than 113% in the last ten years, business owners nationwide are reportedly seeking creative, efficient strategies to control the costs of sponsored health care. A Harris Interactive poll taken in 2010 indicated that more than 47% of companies nation wide employing 3 to 99 employees reported being concerned with the cost of healthcare premiums. The growing interest in healthcare premiums, aside from the toll they are taking financially, is in large part due to the mounting expectations on the part of employees. According to the Kaiser Family 2011 Deloitte survey, 99% of surveyed employees indicated that their sponsored health care was extremely important to them and, of that number, 63% reported that their sponsored health care was the main reason they remained with their employers.
Between the ever important goal of strong, healthy employee retention and the mounting need to control the cost of healthcare premiums, businesses acquiring a premium only plan enjoy a two-fold benefit: the price of sponsoring healthcare is dramatically reduced, the ability to offer great health insurance to employees is increased.
The process through which POP plans empowers businesses with affordable health insurance and strong employee retention is simple. After an employer subscribes to a plan (a cheap, ten minute process) they can deduct their employee premium contributions before regular taxes are deducted. The tax-free nature of the contributions:
€ increases monthly take-home pay for employees; an average $100-$300 per year
€ provides employers a 7.65% reduction to annual FICA taxes
€ allows employers to offer more accessible coverage with a wider range of benefits; employee satisfaction is increased and employee retention grows
Any costs associated with initial subscription a POP are usually more than compensated for by the savings accrued over the first year; between the benefits of a premium only plan and the unmatched services provided by Taxfreepremiums, employers interested in acquiring a POP can look forward to easy, simple, tax-free savings.
Taxfreepremiums provides an accessible entirely web-based support. They automatically update and maintain appropriate POP compliance throughout the year and provide free nondiscrimination testing. For more information on premium only plans, their relevance to the financial sector, and an array of POP services, visit http://www.taxfreepremiums.com/
As the price of healthcare premiums have risen more than 113% in the last ten years, business owners nationwide are reportedly seeking creative, efficient strategies to control the costs of sponsored health care. A Harris Interactive poll taken in 2010 indicated that more than 47% of companies nation wide employing 3 to 99 employees reported being concerned with the cost of healthcare premiums. The growing interest in healthcare premiums, aside from the toll they are taking financially, is in large part due to the mounting expectations on the part of employees. According to the Kaiser Family 2011 Deloitte survey, 99% of surveyed employees indicated that their sponsored health care was extremely important to them and, of that number, 63% reported that their sponsored health care was the main reason they remained with their employers.
Between the ever important goal of strong, healthy employee retention and the mounting need to control the cost of healthcare premiums, businesses acquiring a premium only plan enjoy a two-fold benefit: the price of sponsoring healthcare is dramatically reduced, the ability to offer great health insurance to employees is increased.
The process through which POP plans empowers businesses with affordable health insurance and strong employee retention is simple. After an employer subscribes to a plan (a cheap, ten minute process) they can deduct their employee premium contributions before regular taxes are deducted. The tax-free nature of the contributions:
€ increases monthly take-home pay for employees; an average $100-$300 per year
€ provides employers a 7.65% reduction to annual FICA taxes
€ allows employers to offer more accessible coverage with a wider range of benefits; employee satisfaction is increased and employee retention grows
Any costs associated with initial subscription a POP are usually more than compensated for by the savings accrued over the first year; between the benefits of a premium only plan and the unmatched services provided by Taxfreepremiums, employers interested in acquiring a POP can look forward to easy, simple, tax-free savings.
Taxfreepremiums provides an accessible entirely web-based support. They automatically update and maintain appropriate POP compliance throughout the year and provide free nondiscrimination testing. For more information on premium only plans, their relevance to the financial sector, and an array of POP services, visit http://www.taxfreepremiums.com/