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Premium Only Plans Premium Only Plans (POPs) allow employees to pay their share of premiums for health, dental, vision and group term life insurance on a pre-tax basis through salary reduction.
About POPs: • Employees save on Federal and State Income Tax, along with FICA and Medicare taxes (approximately 30%) • Employers save on FICA and Medicare taxes (7.65%) • Need to have a written plan document, distribute a summary plan description and in some cases annually file a Form 5500
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