Finding and retaining employees is a challenge; especially as costs for benefits like health insurance seem to go up each year. So how do you compete in today’s marketplace? By making smart business decisions that reduce overhead costs whenever you can.
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Immediate Monetary Impact Our program is designed to have positive immediate and long-term impacts to the business and your bottom line. Because of the tax-treatment of qualified benefit plans you will see an immediate payroll tax reduction of about $600 per employee. Also because of the pre-tax nature of these plans, in many states you will also see a reduction in workers compensation premium.
Enrollment at Anytime Enrolling employees with Praxis is simple. Depending on your organization size, we’ll provide you a branded portal for employees to use as well as print materials and emails for employee communication. And enrollment doesn’t have to happen at the end of the year; you can start saving with Praxis Benefits at any time that makes sense for your business. Why wait?
Is this a qualified benefit plan?
How does it work?
The basic fundamentals of our cafeteria plan is to create a defined contribution employee benefit plan. The net effect is non-taxable flex dollars to the employee to spend on additional benefits. The employer also realizes tax savings which reduce operating expenses which go right to the bottom line. This expense reduction can be upwards of almost $600 per employee per year.
Do we need to change health insurance plans?
How does the billing work?
You will generally receive one bill for all benefits. Deductions take place over the course of the month before you are billed for benefits so you are never out of pocket in terms of payment for employee benefits.
How will I know if the program is right for me?
Praxis Benefits will provide you with an employee census form to complete. It will generally take 5 business days to finish the analysis and provide you with a detailed proposal on how our program can work for you and your employees. To request the census form please CLICK HERE.
We’ve got answers. Review our FAQs to learn how your organization can save with Praxis Benefits.