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888.89.ERICA (888.893.7472) 781.726.6070 www.BENETEMPS.com 35 Highland Circle Needham, MA 02494 SECTION 125 PRETAX HEALTH DEDUCTION ENROLLMENT FORM NAME: (please print) SOC. SEC. #: EMPLOYER: BESEEMS

How to fill out section 125 pre-tax health

Point by point, here's how to fill out section 125 pre-tax health:

1. Start by obtaining the section 125 pre-tax health form from your employer or benefits administrator. This form is typically provided during open enrollment periods or when you first become eligible for benefits.
2. Carefully review the instructions provided on the form. This will help ensure that you understand the purpose and requirements of section 125 pre-tax health.
3. Begin by filling out your personal information accurately and completely. This may include your full name, employee ID number, social security number, and contact details.
4. Next, indicate the coverage options you would like to enroll in or modify. This may include medical, dental, vision, and other eligible health benefits. Be sure to consider your specific needs and the options available to you.
5. If you have any dependents, such as a spouse or children, indicate their information accurately. This may involve providing their names, dates of birth, and social security numbers.
6. Calculate and enter the pre-tax contribution amount you would like to allocate towards your health benefits. This amount is deducted from your salary before taxes are applied, which can result in potential tax savings.
7. Make sure to review your choices and contributions before submitting the form. Double-check for any errors or omissions that may affect the accuracy of your enrollment or modification.
8. Sign and date the form, indicating your consent and acknowledgment of the information provided. This signature affirms that the details provided are accurate to the best of your knowledge.

Now, let's address who needs section 125 pre-tax health:

1. Employees who wish to take advantage of potential tax savings should consider section 125 pre-tax health. By contributing towards their health benefits on a pre-tax basis, they can potentially reduce their taxable income, effectively lowering their overall tax liability.
2. Individuals with eligible health expenses, such as medical, dental, or vision costs, can benefit from section 125 pre-tax health. This program allows them to allocate a portion of their income towards these expenses without incurring additional taxes.
3. Employers offering section 125 pre-tax health benefits can also benefit from this program. By providing their employees with this option, they can enhance their overall benefits package and potentially attract and retain top talent. Additionally, employers may also see reduced payroll taxes due to the pre-tax nature of these contributions.

In summary, filling out section 125 pre-tax health involves accurately completing the provided form with personal information, selecting desired health benefits, determining pre-tax contribution amounts, and reviewing the details before submission. These benefits are useful for individuals looking to reduce their taxable income and employers seeking to enhance their employee benefits offerings.

For pdfFiller’s FAQs

What is section 125 pre-tax health?

Section 125 pre-tax health refers to a benefit plan that allows employees to pay for certain health insurance premiums on a pre-tax basis, reducing their taxable income and saving money on taxes.

Who is required to file section 125 pre-tax health?

Employers offering a section 125 pre-tax health plan are required to offer it to eligible employees and must comply with IRS regulations for proper administration and reporting.

How to fill out section 125 pre-tax health?

To fill out section 125 pre-tax health, employers need to gather information on eligible employees, determine the pre-tax deductions, and ensure compliance with IRS regulations for reporting.

What is the purpose of section 125 pre-tax health?

The purpose of section 125 pre-tax health is to allow employees to pay for health insurance premiums on a pre-tax basis, reducing their taxable income and saving money on taxes.

What information must be reported on section 125 pre-tax health?

Information such as employee details, pre-tax deductions for health insurance premiums, and compliance with IRS regulations must be reported on section 125 pre-tax health forms.

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