Concordia
Plan Services has developed a prototype Cafeteria Plan that
may be adopted by organizations participating in the Concordia
Health Plan (CHP). This program can be used when an organization
requires workers to share in the cost of the CHP. Through
a Cafeteria Plan, the worker’s share of the CHP cost
is secured through payroll deduction before taxes are withheld.
By doing this, the amount will be excluded from the worker’s
taxable income. This results in a reduction of the worker’s
tax liability, therefore reducing some of the worker’s
cost related to healthcare. To obtain Cafeteria Plan materials,
employers can download a Cafeteria
Plan packet. Employers can also call the Concordia Plan
Services at 1-888-927-7526 and ask for the Health Benefits
team for more information about a Cafeteria Plan. |
