What is a Premium Only Plan?
A premium only plan (POP) is an IRS regulated, employer-sponsored benefits plan that allows employees to voluntarily redirect a portion of their compensation towards tax-free benefits. The cost of benefits under the plan (i.e. health insurance, or group term like insurance premiums) is deducted from employee's wages on a pre-tax basis allowing savings throughout the year for both employer and employee.
Still Have Questions?
If we have not answered your questions, don’t worry. Please contact customer service for more information.