The Jacobs Company;Employee Group Insurance

The Jacobs Company Employee Benefit Plans & Services Cafeteria Compensation Plans IRC Sec. 125
Cafeteria Plans (also called "Flexible Benefit Plans") allow participating employees to choose among two or more benefits consisting of cash and "qualified benefits." IRC Sec. 125(d)(1)(B)

There is no need to change current benefit programs. If the employer is unable to pay for fringe benefits, the employee can enter into a salary reduction agreement with the employer. The employer then uses these funds to pay for the employee's benefits.

This allows the employee to pay for his or her own benefits with pre-tax dollars.

How is the Employer Benefited?
Some "Qualified Benefits" Which Can Be Added, Include
Benefits Which are Specifiacally Excluded, Include
Plan Requirements
Discrimination

Group Health Insurance

Cobra Coverage Continuation

Flexible Spending Accounts

Medical Reimbursment Plans

Medical Savings Accounts

Group Medical Insurance Plans

Please refer to our Health Insurance Section as we are developing the Employee Benefits Section

construction

This document was last modified on July 26, 1999