Attention HR Professionals and Business Leaders 🚀
Have you ever thought about what could be the most underutilized secret in group insurance? It’s Section 125! 💼 Here's a 90 second video overview:
Section 125, also known as a Cafeteria Plan, provides an incredible opportunity for both employers and employees to save on taxes. But despite its benefits, it remains surprisingly overlooked. Here's why I believe it's the most underutilized group insurance program ever invented:
- Tax Savings: By allowing employees to pay for eligible expenses with pre-tax dollars, Section 125 can save both employees and employers money on taxes. Yet, many remain unaware of this potential saving opportunity.
- Flexibility: Offering choices from different benefit options such as Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs), it promotes a tailored approach that fits individual needs. Despite this, many businesses fail to explore these personalized options.
- Ease of Implementation: With proper guidance, setting up a Section 125 plan is not as complicated as it seems. However, the misconception that it is complex and cumbersome leads to many employers overlooking this possibility.
- Wellness and Employee Satisfaction: By enabling access to essential health-related benefits, Section 125 encourages a healthy lifestyle, contributes to overall employee well-being, and enhances job satisfaction. Yet, the connection between these plans and positive workplace culture is often underestimated.
- Small Business Friendly: Although often associated with large corporations, Section 125 plans are equally beneficial for small businesses. The lack of awareness in the small business community has left this valuable resource largely untapped.
It's high time we break the cycle of underutilization and explore the remarkable benefits that Section 125 plans offer. Whether you're an HR professional looking to boost employee satisfaction or a business leader aiming to optimize costs, it's worth investing the time to explore this hidden gem.
Need guidance on how to implement or maximize the benefits of Section 125?
Book a time on my calendar and let's connect! Together, we can make the most of this essential tool for your organization's success. 💎 #Section125 #GroupInsurance #EmployeeBenefits #TaxSavings
Co-Founder & CEO at Pasito (YC S22)
1yThank you for sharing! Raising awareness about underutilized benefits, like Section 125, is crucial.
Championing Personalized Financial Guidance | Coaching You to Financial Success
1yThanks for shedding light on the features of a Section 125 plan. One would think with all the talk about workplace wellness, these plans would be even more popular. Appreciate the refresher Adam Torkildson
Franchise Consultant | Entrepreneur | Helping you find the perfect franchise
1yThank you for sharing this, Adam! You provide interesting insights here -- Why do you think this is such an overlooked/underutilized group insurance program?
Certified Business Development Coach for Financial Advisors | Grow Your Assets Under Management (AUM) | Business Coach | Grow My Financial Services Business | Strategic Financial Services Marketing Plan
1yIt looks like you bring a tremendous amount of experience to the table for your clients to help them navigate each of these areas.