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REPORT TO CITY COUNCILApproved by:Council Meeting of: June 1, 2022___ Wendy Silva, Director of Human ResourcesB3 Agenda Number: ______ Arnold Rodriguez, City Manager SUBJECT: Section 125 Flexible

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How to fill out section 125 flexible benefits

01

Contact your employer or HR department to determine if your company offers a Section 125 flexible benefits plan.

02

Review the enrollment materials provided by your employer to understand the options available to you.

03

Determine your anticipated healthcare and dependent care expenses for the upcoming plan year.

04

Complete the necessary forms provided by your employer to make your benefit elections.

05

Submit the completed forms to your employer within the specified deadlines to ensure your benefits are activated.

Who needs section 125 flexible benefits?

01

Employees who want to take advantage of pre-tax savings on eligible healthcare and dependent care expenses.

02

Employers looking to offer their employees a way to save money on out-of-pocket healthcare and dependent care costs.

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What is section 125 flexible benefits?

Section 125 flexible benefits, also known as a cafeteria plan, is a type of employee benefits plan that allows employees to choose from a variety of pre-tax benefits.

Who is required to file section 125 flexible benefits?

Employers offering a section 125 plan are required to file section 125 flexible benefits.

How to fill out section 125 flexible benefits?

Employees can fill out section 125 flexible benefits by selecting the pre-tax benefits they wish to enroll in during the open enrollment period.

What is the purpose of section 125 flexible benefits?

The purpose of section 125 flexible benefits is to allow employees to save money on taxes by contributing to certain benefits on a pre-tax basis.

What information must be reported on section 125 flexible benefits?

Section 125 flexible benefits must include information on the pre-tax benefits chosen by employees, contributions made by employees, and any employer contributions.

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