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Section 125 Cafeteria plans are one of the fastest growing employee benefits currently available. Under Section 125 of the Internal Revenue Code, an employee may set aside a portion of his compensation on a pre-tax basis. The money that is set aside must be used for such expenses as medical/dental/vision premiums, dependent care, or reimbursement of medical/dental/vision expenses.
Services
The W&A, Inc. cafeteria program provides the employer with the ability to effectively communicate with its employees and to inform employees of their benefits under the cafeteria plan .The program includes professional claims processing, compliance, consulting, communications, and state of the art voice response and Internet capabilities. The W&A system also has debit cards for use at most drug stores, hospitals and doctors offices.
Plan Administration
W&A, Inc. provides the employer with a plan administrator who is assigned to the plan. Every detail of the plan will be handled by that administrator.
Your assigned plan administrator is constantly studying the latest regulations from the Department of Labor, the Internal Revenue Service and other governmental agencies in order to keep up with the ever changing nature of plan compliance.
As part of the routine service provided by W&A, Inc., a consultant is available to help with questions concerning plan design, tax law changes, and plan interpretation. The consultant and plan administrator are also available for plan enrollments and consultations.
The art of communications is often the most difficult part of any plan, and especially a cafeteria plan. A cafeteria program must be effectively communicated in order for the employee to make the correct elections of benefits. The administrator, consultant and support staff assigned to your plan are trained to respond to questions and communicate to both employers and plan participants in language that is easy to understand.