For almost 50 years, employers have utilized health and wellness insurance programs through Section 125/Cafeteria plans to reduce payroll taxes and can now free up hundreds of dollars for employees. This program combines those principles with the latest developments in wellness tax benefits to give savings back to companies and increase benefits to their employees. This is accomplished without affecting the employee’s net take-home pay or adding any costs to the company’s bottom-line.
On January 1, 2014, a new tax incentive was created by congress which now provides incentives to both employers and employees that participate in a participatory and compliant wellness program. It is the position of Congress, that education and participation in an approved compliant wellness program will lead to a reduction in the nation’s overall healthcare costs benefitting both the employer and the employee.