Section 125 Cafeteria Plan
Your employer’s Cafeteria Plan includes Premium Only Plans (POP) and Flexible Spending Accounts (FSA). This employee benefit program is designed to take advantage of the tax saving provisions of Section 125 of the Internal Revenue Code. The POP plan allows employees to pay certain qualified expenses such as the employee sponsored health insurance premiums on a pre-tax basis, thereby reducing their total taxable income and increasing their spendable take-home income. In an FSA, employees may set aside on a pre-tax basis a pre-established amount of money per plan year. The employee can use the funds in the FSA to pay for eligible medical, dependent care, or transportation expenses.
CBA offers the IRS Section 125 Plan (Cafeteria Plan). The plan is administered by WageWorks, and the eligible products are offered by Allstate Benefits. If you are already a participant, login to WageWorks to review your account.