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Contact Information
Provess Flexible Benefits
4050 Katella Avenue, Suite 213
Los Alamitos, CA 90720
Phone: (866) 639-5289
E-Fax: (866) 264-4093
E-mail: admin@provess.com
Palm Springs and Midwest Locations...
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Provess Flexible Benefits
SECTION 125 CAFETERIA TAX-FREE BENEFIT PLAN
Employer savings are based on total employee Cafeteria reduction:
Employee portion health, dental & vision premiums
• Dependent costs
• Unreimbursed Medical costs
• Other qualified costs
• Voluntary benefit costs
Typical minimum percentage for employer is 10% (FICA plus workers’ compensation). If workers’ compensation cost is above 1% expected savings should be correspondingly higher.
Employer Savings Example
Based on:
FICA match savings and workers’ compensation
50 employees participating
Average $200 per employee
Employer savings = $12,000 annually/Employee savings = $25,000 annually
Same Example with 5% workers’ compensation rate = $16,500 annual savings/$25,000
Same Example with 10% workers’ compensation rate = $21,600 annual savings/$25,000
Here's How The Full Flex (FSA)125 Plan Benefit Employees:
CLICK HERE To calculate and see how much you can save as an employee!
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Flexible Benefits
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January 2010