By converting these employer sponsored accident and health insurance premiums from after-tax to pre-tax it will...
- Make benefits more affordable
- Increase spendable income of the participant
- Participant's taxes will be reduced
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Premium Only Plan (POP) allows Plan Participants to convert
otherwise after-tax accident or health insurance premiums to pre-tax or
tax-free premiums. Participation in this type of plan must be offered by
the Employer on a nondiscriminatory basis. The Plan must be written and
the Employee must elect such benefits in writing.
By converting these employer sponsored accident and health insurance premiums from after-tax to pre-tax it will...
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