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Premium Only Section 125 Plans
Benefits & Compensation
Premium Only Section 125 Plans
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My company is currently looking for an administrator of a Premium Only Section 125 Plan. We had contacted AFLAC, but my rep has not returned my messages for two weeks. I am getting disgusted. I do not
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Premium Only Section 125 Plans

posted at 5/31/2000 3:50 AM EDT
Posts: 51
First: 10/14/1999
Last: 11/23/2009
My company is currently looking for an administrator of a Premium Only Section 125 Plan. We had contacted AFLAC, but my rep has not returned my messages for two weeks. I am getting disgusted. I do not know enough about these types of plans to think of companies who offer them. Does anyone have this type of plan? And, if so, who administers it?

Thanks in advance.

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Premium Only Section 125 Plans

posted at 6/8/2000 4:36 AM EDT
Posts: 267
First: 6/29/1999
Last: 4/13/2010
You really don't need an adminsistrator for a premium only plan. Essentially all you are doing is deducting premiums pre-tax and applying that money to your health insurance premium. It can all be done internally by your accounting department.

You need to follow the Section 125 regs, including having a plan document, (which an attorney, your benefits broker, or perhaps a full service accounting firm could set you up with). You will need to file an annual 5500 if the plan is large enough, but that too can be done in-house and it is relatively simple. You also need to do an annual enrollment. Perhaps a good seminar is all you need to get started.
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Premium Only Section 125 Plans

posted at 6/13/2000 6:49 AM EDT
Posts: 7
First: 6/13/2000
Last: 3/2/2004
We use our outside payroll company (ADP)for the POP under Section 125. They handle administration of the plan, prepare SPD and plan document and the Form 5500.
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