In order for you to "cut the costs of benefits without
cutting the benefits," we provide efficient and affordable administration
of the following employee benefit plans:
• Section 125 Cafeteria Plan (Fast-Flex Plus)
• Section 105 Medical Reimbursement Plan (AgriPlan® or
BIZPLAN®)
With Fast-Flex Plus, we are offering timely reimbursements for your employees, reports of individual accounts with each reimbursement check. We welcome the opportunity to help you set up a Premium Conversion Plan, Medical Flexible Spending Account, Dependent Care Flexible Spending Account or a combination of all three for your business.
Beginning in 2004, over-the-counter drugs (non-prescription) can be paid for with pre-tax dollars through Flexible Spending Accounts (FSA's), which may provide financial relief to those taxpayers whose medications have been reclassified from prescription to over-the-counter status, and thus are no longer covered by medical insurance. Of course employees will have to provide proper documentation for those costs in order to receive reimbursements. The IRS stresses that although individuals aren't taxed on an FSA reimbursement of over-the-counter drugs and medicines, these expenses if unreimbursed, cannot be deducted as medical expenses on a tax return.
AgriPlan/BIZPLAN®'s tax reduction program for qualifying self-employed business owners and farmers allow a 100% tax deduction of family health care expenses. We will help you with enrollment by completing a plan document, filing a summary plan description and making sure that you have met all participation and eligibility requirements. Total Administrative Services Corporation (TASC) out of Madison, Wisconsin, will support the plan and provide the audit guarantee for the minimal annual fee of $195.00. Additional employees can be added to the Plan for $50 (see resources below).
Current Online Employee Benefits
Administration Resources:
AgriPlan/BIZPLAN®
Logging of Hours
Fast-Flex Plus
C. J. Richtsmeier, CPA
carolyn@cjrichcpa.com
(641) 868-2257