The Diocese offers a Section 125 Plan through Benefit Resource, Inc. of Rochester, New York. This plan is an excellent way for employees to set aside tax free dollars to pay for medical expenses not covered by insurance for services incurred by both the employee and their dependents. Employees can also opt to set aside tax free dollars to reimburse them for dependent child care expenses. By lowering taxable income an employee can increase their spendable income. Depending on their individual tax bracket a typical employee can save as much as 25%-40% on their tax free contribution as the monies set aside are not subject to federal, state or Social Security taxes.
Additionally, employees who participate in the health insurance plan through Excellus BlueCross BlueShield can have their health insurance premiums automatically deducted from their salary on a pre-tax basis. This will also increase an employees' spendable income.
If they haven't already done so, employers are encouraged to contact Benefit Resources, Inc. at (800) 473-9595 to make arrangements to establish a Section 125 Plan.
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