kristileigh
New Member
- 2
That is a great idea. Thank you.
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This Classic 105 program has now been in place for over 5 years now. To date, the only companies who have not renewed yearly are those who simply went out of business. The only employees that didn't renew either passed away or left the company..... with no out-of-pocket expense to either the employer or the employee ever it's an "IQ test" or if you prefer....your "no-brainer." It's a self-funded and self-defined benefits plan structured thru the ERISA program.
The employer's are stuck in a cycle of giving their employees less and less benefit every year. They do not want to do that, but they have no choice if they are going to stay in budget. We can not only solve that problem by maintaining their current costs at NO price increases with the exact same provider they have now, but we can actually lower the risk to the employees while keeping the employer on budget, and we can also get the employer $400 to $500 in cost savings per year per employee: we can also lower the cost for the employee's share of the premiums and make them some additional money; and do all of this at no cost to the employer or to any of the employees for this service! No one else can do that for them!
My company is currently bringing on board experienced brokers and agents (currently selling group health plans) an a full or part time basis nationally to introduce the program on a much larger scale as we've secured (once brokers and agents are trained and certified) an "initial" $1.5 billion with a goal to fund 100,000 employees before the end of 2016. AND....there is a patent pending on the process. Commissions are very favorable and will remain the same year after year on renewals. It's a proverbial gold mine opportunity in my opinion.
I'd like to know when the IRS & DOL reversed their stance on this and it became legal... maybe point me to the ruling. .
This IRS code was actually established in the 1950's....it's one of the oldest IRS codes. It just wasn't affordable to the average worker before. Now it is.
Anytime someone starts talking about a 50 year old tax code the BS meter starts to jump up. But I am very familiar with the tax code and how old it is... I am also familiar with the many changes they have made over the past 50 years.
Yes or No Question:
Are you using a 105 Plan to reimburse employees for health insurance?
No....it's The Classic 105 program. And it reimburses out of pocket expenses only.
we can also lower the cost for the employee's share of the premiums and make them some additional money; and do all of this at no cost to the employer or to any of the employees for this service!