Premium Only

The Premium Only Cafeteria Plan is the simplest form of a Cafeteria Plan.  A Premium Only Plan is a win-win situation for employers and employees.   Participants use pretax dollars to pay for their share of group health insurance premiums.  By using pretax dollars, employees save income taxes and have more take-home pay.  Employers add an employee benefit and save on payroll taxes.  As a result, the cost of setting up a Premium Only Plan is usually recovered quickly.

Requirements for a Premium Only Plan include:

• A Plan Document, Summary Plan Description, Board Resolution and Enrollment Forms
• Annual Non-Discrimination Testing

A Premium Only Plan benefits everyone regardless of company size.  It is simple to set up and even easier to administer. 

• For information on setting up a Premium Only Plan, go to Getting Started. 
• For information about cost of services, go to Fees. 
• If you currently have a Premium Only Plan and need a generic enrollment form, click on POP Forms.

If you have questions or need assistance, please contact us at 1-800-982-2012 or at cafeteria@profben.com .