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Employee Benefits Plans As health care costs are rising, Employee Benefits Plans are becoming increasingly important to both employees and employers. The experienced staff at CDSA is available to meet with you to discuss the plan options in detail and help you decide which type of plan best meets your needs.
Cafeteria Plans
A Cafeteria Plan is referred to as flexible compensation because it allows employees to be more flexible with their salary and benefits. Cafeteria Plans can be used for insurance premiums, medical expenses and day care expenses. With a cafeteria plan employees buy benefits and pay for them with pre-tax salary deductions. When employees contribute to their cafeteria plan, they save on Federal and State Income Tax, along with FICA and Medicare taxes (approximately 30%).
Cafeteria Plans offer the employer an opportunity to lower benefit costs and save FICA and Medicare taxes on employee contributions to the plan (7.65%).
In addition to saving employees and employers money, Cafeteria Plans increase employer and employee choices and provide employees with a positive image of their employer.
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