Want to make benefits more affordable for your accounts? Take advantage of BlueCross flexible benefits plans! The Internal Revenue Code (Section 125 of the Revenue Act) created flexible benefits plans, also called cafeteria plans. We can administer them for your accounts!
These employer-sponsored plans allow your accounts' employees to set aside money to pay for their benefits and their medical or dependent care expenses. All on a pre-tax basis! This lowers their taxable income — which means they bring home more of their net pay!
We offer two kinds of flexible benefits plans:
POPs help make benefits more affordable. We'll deduct qualified benefits from employees' salaries before taxes. We offer POPs with administrative services.
FSAs are similar to a checking account. Employees can deposit pre-tax money from their paychecks to use later. They can pay for qualified medical expenses not covered by the company's health plan or pay for dependent care expenses.
When we process claims through the BlueCross system, we automatically roll them into the FSA reimbursement system. We automatically reimburse the deductibles, copayments and coinsurance to the participants.
For more information, please contact your BlueCross marketing representative today!