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Section-125 Cafeteria Plan Administration

Health and dependent care Flexible Spending Accounts (FSAs), Healthcare Reimbursement Accounts (HRAs), and Premium Only Plans (POPs) are among the best fringe benefits you can offer your employees. These accounts allow your employees to save tax dollars on money spent for dependent or health care premiums and expenses by using pre-tax dollars. In essence, Uncle Sam subsidizes a portion of the employees’ costs.

Participating employees direct you to set aside from each paycheck a specified amount of money for the year to be credited to the account. The entire amount allocated for the year is available to the employee to cover expenses at the start of the benefit year, even though the money is deducted from each paycheck over the course of the year. The following illustration shows the financial impact of such a plan on a sample employee.

Gross Family Income

$30,000

   

$30,000

Before-Tax Allocation

- $5,000

 

- $0

Adjusted Gross Income

$25,000

 

$30,000

Taxes:

Social Security Tax

- $1,912

 

- $2,295

Federal Income Tax

- $1,163

 

- $1,913

After-Tax Cost for Health Care

- $800

 

- $5,800

 

 

 

 

Take-Home Pay

$21,125

 

$20,952

Tax Savings

$173

 

 

The financial benefits of Cafeteria Plans to your employees is obvious, and as the employer, you enjoy a two-fold advantage – increased employee satisfaction and reduced expenses, since money deducted for the plans is not subject to Social Security and Medicare taxes paid by the employer. SAS offers complete administration of your Cafeteria Plan by performing the following specific services:

  • Individual account tracking
  • Claims Processing 
  • Claims payment/reimbursement
  • Form 5500 preparation
Welcome, Allen Beverages Inc.!
SAS would like to Welcome this new group to the SAS Family.
 
Members, You can now View Your Claims Online!
SAS Members can now view and print their Claim EOBs (Explanation of Benefits)

Log into your Health Ensure Member Account today to see this new feature for SAS members. Your EOB is available for claims that have completed processing. Just click on the “View EOB” link next to the Claim ID number.