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CHAMPLAIN COLLEGE PREMIUM CONVERSION AND HEALTH SAVINGS ACCOUNT CONTRIBUTION PLANV10132020CHAMPLAIN COLLEGE PREMIUM CONVERSION AND HEALTH SAVINGS ACCOUNT CONTRIBUTION PLAN ___ TABLE OF CONTENTS ___
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Who needs benefitextrascompremium-conversion-planspremium conversion plans?

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Employees who want to save money on healthcare costs by converting a portion of their pre-tax salary into benefits
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Employers looking to offer a tax-efficient way for their employees to pay for insurance premiums
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Premium conversion plans allow employees to pay for their share of health insurance premiums on a pre-tax basis, reducing their taxable income.
Employers offering premium conversion plans are required to provide the necessary forms and information to employees.
Employers can provide employees with enrollment forms and information on how to elect to participate in the premium conversion plan.
The purpose of premium conversion plans is to provide employees with a tax advantage by allowing them to pay for health insurance premiums on a pre-tax basis.
Employers must report the employee's election to participate in the premium conversion plan, the amount of the premium, and any pre-tax deductions.
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