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Premium Only Plans (POP)

SIMA Financial Group > Employee Benefit Services > Premium Only Plans (POP)

hen bundled with SIMA Payroll Services, SIMA Employee Benefits clients can take advantage of POP plans which allow employees to pay their share of health insurance costs with pre-tax dollars, reducing taxable income for the employee.

Employers benefit as well. A POP plan reduces the income amount used to determine the employer’s payroll taxes while employee net pay is increased.

When payroll and employee benefits are bundled, SIMA establishes and manages client POP plans by providing legal documentation, compliance testing, and regular status reports while sparing employers the annual fee associated with premium only plans.

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