Give yourself and your employees an instant tax cut with an employee group benefit plan that offers multiple options. EasyChoice offers Premium Only Plans (POP) and Flexible Spending Account Plans (FSA) to help you and your staff save money.
POP gives you and your employees a way to save money while fostering employee loyalty and retention. POPs qualify for payment with tax-free dollars, which can save employees up to 40% and eliminate nearly 8% of employer-paid matching FICA and federal unemployment tax payments.
FSAs enable you to develop a range of pre-tax benefits options, including dependent care, medical expense and commuter expense reimbursement plans:
The savings you and your employees get from EasyChoice pre-tax benefits plans can really add up: For example, an employee with an annual salary of $30,000 can reduce their taxable income to $27,600 by contributing $2,400 to an account to pay for routine expenses. That can result in a $736 increase in take-home pay.
Your company also takes advantage of potential savings: For a 10-person firm with $300,000 annual payroll and 7.65% Social Security taxes, nearly $2,000 in savings is possible if enough employees sign up and taxable payroll is reduced. It's a win-win situation for you and your staff - an easy choice.