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Health Savings Accounts
An HSA is an innovative approach to health insurance that is made up of 2 components:
1. A qualified high deductible health insurance plan
2. An Individual Tax-exempt Trust (savings/investments)
COBRA Administration
COBRA gives you the right to choose to temporarily keep the group health insurance benefits that you would otherwise lose after you reduce your working hours, quit your job, or lose your job.
Commuter Benefits
These plans allow employees to use pre-tax dollars to pay for the costs associated with their commutes to work through an employer-sponsored program. While many parking and transit plans are the same you must check with your employer for the specifics of your company’s plan.
Health Reimbursement Accounts
HRA plans are employer-funded medical reimbursement plans where the employer sets aside a specific amount of pre-tax dollars for employees to pay for health care expenses on an annual basis.
Section 125 Plans
Section 125 of the Internal Revenue Code allows for the creation of a reimbursement mechanism allowing employees to contribute a portion of their income into one or more accounts on a pretax basis. These pretax funds can then be used to pay for expenses not covered by insurance