Tools
IRS Section 105 plan
One tool available to the public entities and non profits we work with is called a MRA (Medical Reimbursement Account).
These are IRS-approved plans wherein an employer reimburses an employee, their spouses, and dependents for medical expenses.
How could you use a MRA to be cost effective to your business?
A Section 105 plan pairs nicely with a high deductible self -insured medical plan.
How is there a savings realized by the employer if they are funding the MRA?
Here’s the beauty of the plan- just as with the self-funded medical plan discussed previously, unused funds in the MRA are returned to the employer! (in this case it is 75% of the balance in the MRA at year end.)
Just a few strategic adjustments like this can save thousands annually.
Our Services
HR/ Payroll/ Employee Benefits Solutions
Our most specialized and tailored services specific to your business needs. We will reduce risk and administrative burden while maximizing your employee benefits package and reduce plan costs wherever possible.
Affordable Healthcare Plan Options
With a self- funded plan, the small business has greater flexibility to customize their healthcare plan. You can design the coverage you want rather than just picking from one or two prepared plans that the carrier offers.
Cyber Liability / Cyber Crime Protection
We will review your current plan for adequacy relative to operations and then provide the cyber security, insurance and education necessary to mitigate potential risk and exposure to threats.
Tools for Public Sector and Non Profit
One tool available to the public entities and non profits we work with is called a MRA (Medical Reimbursement Account). These are IRS-approved plans wherein an employer reimburses an employee, their spouses, and dependents for medical expenses.