Tax Savings Program
Lower payroll taxes. Add benefits your team can use. A short overview for employers. On a free 15-minute call, I’ll walk you through the details and show your numbers in writing.
What it is
This is a benefit program that works alongside the health insurance you already offer. It combines a pre-tax wellness benefit with a medical expense reimbursement plan. Moving part of an eligible employee’s pay into the pre-tax benefit lowers the wages your payroll taxes are based on, which can reduce your share of those taxes. The program is designed so each employee’s take-home pay stays the same, and your team gains extra benefits.
What it can mean for you
Up to $1,120 per eligible employee per year in payroll-tax (FICA) savings, before program fees. In a sample paycheck, after a $40 monthly fee per employee, the net comes to roughly $640 per employee per year. Your numbers will depend on your payroll.
What your team may get
- 24/7 telemedicine and mental health support
- A prescription savings program
- Weight health coaching
- Dental and vision plans
- Accident, critical illness, hospital indemnity and life insurance options
Who may qualify
- W-2 employees working 30 or more hours a week
- Qualifying medical coverage already in place
- 10 or more employees
This is for W-2 employees. It isn’t available for 1099 contractors.
What to expect
- A 15-minute call to review your payroll and eligibility
- A short census of your employees, with help completing it
- A proposal with your numbers in writing, typically within about a day
- Enrollment online, onsite or self-serve
- Up and running in about 30 days, with new hires added all year
Built-in protection
The program includes attorney-led IRS audit defense and an indemnity of up to $20 million per client from the program provider.