Flexible Spending Plans
Offer More Flexibility and Savings with a Cafeteria Plan
Did you know your municipality can help employees save money on healthcare while reducing your own payroll taxes? Flexible spending, or Section 125 cafeteria plans, are a flexible, cost-effective benefit option that allows employees to pay for eligible expenses like health insurance premiums, out-of-pocket medical costs, and dependent care using pre-tax dollars. This reduces their taxable income which ultimately increases take-home pay—at no extra cost to you as the employer.
With a cafeteria plan, employees can choose from a menu of benefit options to fit their personal needs. Common offerings include Flexible Spending Accounts (FSAs) for medical or dependent care costs, and Health Savings Account (HSA) contributions, that let employees pay for health, dental, or vision insurance with pre-tax income. These plans make it easier for employees to budget for their everyday healthcare needs, and provide them with more control over how their employment benefits work for them.
Through our trusted benefits partner, Acrisure, AML members now have access to tools and support to establish and administer cafeteria plans tailored to their workforce. Offering a cafeteria plan isn’t just a benefit to your staff—it can also mean significant payroll tax savings for your municipality. Plus, it strengthens your position as a competitive employer, helping you retain and attract great people. AML and Acrisure can walk you through every step of setting up a plan, from plan design and compliance to ongoing administration.
Whether you’re looking to expand your current benefits like the Alaska Municipal Health Trust or are exploring pre-tax options for the first time, we’re here to help. Reach out today to learn how your community can take advantage of this flexible benefit opportunity.
Cafeteria Plans
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Heath Savings Account (HSA) Plans With the WealthCare Saver investment solution, your employees will be able to choose from three different investment models – Managed, Self-Directed and a first-of-its-kind Brokerage option – all of which are designed to help them work toward their long-term investing goals. |
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HSA Higher Returns
High-Yield holds HSA cash funds in a deposit account, allowing your employees to take advantage of higher interest rates while maintaining their ability to spend or invest their funds. |
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COBRA Administrator
Enhanced capabilities and first-of-its-kind self-service tools enable you to not only streamline COBRA communications, reporting, enrollment, and billing and payment processes, but also offer an enhanced participant experience that seamlessly guides your employees through the post-employment health benefits process in a simplified and meaningful way. |
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Flexible Spending Account (FSA) Rollover
A flexible spending account (FSA) is a health benefit account that allows your employees to set aside pre-tax dollars for eligible medical, dental and vision expenses that are not covered under their primary health plan. |
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Debit Cards with HRA-Based Plan Designs The more aware consumers are of their healthcare cost, the more care- and cost-conscious they become. This basic premise often results in lower long-term premiums, increased enrollment in HSA-eligible plans, and generally savvier healthcare consumers. |