Cafeteria Plans

Cafeteria plans allow employees to make a choice between receiving taxable cash compensation or tax-free qualified benefits. Generally, qualified benefits under a cafeteria plan are not subject to FICA, FUTA, Medicare tax, or income tax withholding. The considerable tax-savings that cafeteria plans afford have made them popular with employers and employees.

Significa Benefit Services has been providing comprehensive cafeteria plan administration services since 1993. We administer the three most common qualified benefits that can be offered under a cafeteria plan:

• Premium Only Plans (POP)
• Health Care Flexible Spending Account Plans (HCFSA)
• Dependent Care Flexible Spending Account Plans (DCFSA)
• Transportation

Healthcare FSA Debit Card Option

For added convenience and point of service reimbursement, Significa offers a debit card option.

A debit card is issued to each employee with the annual election amount. The employee can use their debit card at specified merchants such as pharmacy, doctor/dentist offices, hospitals and more.

Some debit transactions are auto substantiated at the point of service such as amounts that match pre-defined copays. Other services require the employee to submit documentation to Significa for transaction approval.

Please contact our Marketing Department if you would like more information regarding this product.