Benefit Solutions, Inc.1210 Sycamore Sq. Dr, Suite 200 Midlothian, Virginia 23113
Phone Number:(804)
379-0909
Fax:(804) 379-5898
Premium Conversion
allows employees to pay for the following group insurance plans
on a pre-tax basis:
-
Health Insurance
-
Dental Insurance
-
Vision Insurance
-
Prescription Drug Insurance
-
Cancer Insurance
-
Disability Insurance
-
Group Term Life Insurance
This gives employees immediate savings in their
paycheck and is the easiest part to set-up and administer. The
company payroll department simply takes these insurance premiums out of
the employee's paycheck pre-tax instead of after tax and the company pays
the insurance bill each month as usual. The company simply reports
those amounts to us monthly.
How Can We Help?
Benefits Solutions will prepare the plan document
for your company. We will also perform all Federally required discrimination
testing and prepare the IRS Form 5500 (if required) for you after the end of the
year. Most companies benefit significantly from adopting at least this portion
of the flexible benefit plan.
If your company would like to adopt a premium only
plan, just for the premium conversion portion of the flexible benefit plan, we
can help you get set up quickly and easily. Our costs are reasonable and start
as low s $400 per year. Call us and let us help your company and employees save
$$$!