Premium Only Plan (POP)
A Premium Only Plan allows you to use pre-tax salary dollars to pay your employees’ share of benefit premiums. Any size employer can take advantage of this special provision of Section 125 of the IRS code.Benefit Premiums may include:
- Employee Group Term Life (up to $50,000)
- Voluntary Benefits
Employees reduce their taxable income, which lowers their taxes and increases their take-home pay. You cut your payroll taxes by decreasing your total taxable payroll.