You recently started your business and don't think you can afford to offer healthcare benefits but you need to offer something other than cash to attract quality employees. A Cafeteria Plan with a premium payment plan and/or health flexible spending accounts (FSA) may be just the benefit to get you started.
You employ a lot of parents with young children. You would like to offer some type of benefit to help them with their childcare costs. The plan that can take care of these employees is a Dependent Care Assistance Plan (DCAP).
You have a small company that doesn't currently offer health insurance. You would like to provide your employees who have worked for you for at least 1 year with some amount to help them with their healthcare costs, including their insurance premiums. If so, then you may be on your way to an HRA (Health Reimbursement Arrangement.
You would like to provide your employees who have worked for you for at least 2 years with an allowance amount each year that could be used only for their out-of-pocket medical expenses. A Medical Expense Reimbursement Plan (MERP) is just what the doctor ordered!
Recently your company's health insurance premiums - especially family coverage - have gotten so expensive that your employees can no longer afford them. If you could find a way to significantly lower these premiums, you would even be willing to pass part of this savings back to them. If so, then hip, hip, hooray for the HSA (Health Savings Account).
You have certain key people in your company that are critical to its success. You would like to give them an extra perk to reward them for their excellence. Exceeding expectations can lead to an executive reimbursement plan.
Some of your employees endure the daily hassle of commuting into the office by relying on public transportation or paying parking fees for their vehicles. If transportation costs in your city are big, help drive down those costs with a qualified transportation plan.
You have employees with so much love that they are giving birth from the heart through adoption. Play a part in this process by helping them exclude the associated expenses from their taxable income through your adoption assistance program.
Some of your employees value their time off more than money, while others would rather work than play. Up to a limit, why not let them buy and sell additional time off before the new year began? Happy employees = productive employees so…pack your bags, because you're on your way to a Vacation Buy/Sell Plan.