Premium Only Plans

Premium Only Plans (POP) are a win-win for both you and your employees:

• Employees make contributions on a pre-tax basis, which lowers their taxable income and makes participation in the group benefits plan more affordable, with typical savings of 25% to 40%, depending on the employee’s tax bracket
• As an employer, you can benefit by saving nearly 8% on matching Social Security (FICA) and federal unemployment tax contributions.

Here’s how the annual savings works for you as an employer:

Annual savings for employer in taxes on one employee: $405.60

With a POP plan through PayChoice, you can reduce your tax liability, offer employees more affordable coverage, retain key staff members and take advantage of convenient, low-cost plan set up. Contact PayChoice now to learn more about POP options.