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Voluntary Benefits

PRG can often help you install a voluntary (employee pay all) benefit package using a "125 Plan" for the tax advantages. Since these plans are designed to use the employer's payroll deduction system to help the employees buy some portable, affordable (somewhat customized) benefits - they help increase the affinity between the employer and employees. Hence, they are often referred to as "affinity plans". Typical voluntary benefit programs include:

Life Insurance
Accidental Death and Dismemberment
Disability Insurance
Cancer Plans
Long Term Care
Identity Theft
Telemedicine
Prepaid Legal
Auto and Home
Hospital Indemnity

Section 125 Premium Only Plan
A Premium Only Plan allows all employees to deduct healthcare premiums, dental premiums, and cancer premiums on a pre-tax basis under Section 125 of the IRS code. This can save on federal taxes, state taxes, and FICA taxes, for your employees. This can easily amount to roughly a 30% savings on their premiums. In addition, the employer saves the 7.65% FICA match on those same premiums, and if your Worker's Compensation premiums are a function of payroll you can save even more by lowering payroll. A double savings is always nice.

Section 125 Plan with Flexible Spending Accounts
In addition to the Premium Only Plan services mentioned above, you can install the appropriate flexible spending accounts. If employees elect to participate in a Plan with Flexible Spending Accounts, each participating employee would often be charged a low monthly fee. This allows the employee and their family to pay for deductibles, coinsurance, un-reimbursed medical and dental expenses and some over the counter medicines are eligible too. The employer saves more of the 7.65% FICA on these monies set aside by employees too.
(see www.ezflexplan.com/resourceone*)

*Please note that the information being provided is strictly a courtesy. When you link to any of the websites provided, you are leaving this site. Proliance Resource Group. Inc. (PRG) makes no representation as to the completeness or accuracy of information provided at these sites. PRG assumes no liability for any direct or indirect technical or system issues or any consequences arising out of your access to or use of a third-party site. When you access one of these sites, you are leaving PRG's website and assume total responsibility and risk for your use of the sites to which you link.

Proliance Guiding Principles

	Leadership: “The essential quality for leadership is not perfection, but credibility.”
	Provide “Choice”
	Full disclosure in advance—”know the deal”
	Voluntary alliance participation (provider and distributor)
	Success-sharing revenue formula with provider
	Active oversight of providers and distributors (due diligence after-the-fact)
	Consistent and predictable delivery
	Constantly seek improvement
	Assess opportunities objectively and without prejudice