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FAQs

1.    How can I get a Section 125 implemented in my business?

Precision Administrators, Inc. can aid you in implementing a Section 125 in your business today.  Our professional team can set up enrollment meetings at your convenience. The Precision Administrators, Inc. marketing team will meet with your Human Resource Department to design the benefits that you would like to offer to your staff.  Precision Administrators, Inc. can offer you a wide range of options with nationwide carriers for all areas of your employee benefit offerings. 
After the final decisions have been made on benefit options a representative of our staff will return to administer group educational meetings for your employees.  These meetings give us the opportunity to educate and answer questions that will aid your employees in making the best benefit decisions possible under a Section 125 Plan.

Contact us today to start saving your company money!

REQUEST PROPOSAL FORM

  • OKC Metro Area 405-507-0800
  • Toll Free 1-800-615-2797
  • customerservice@paitpa.com

2.    Who can participate or sponsor a Section-125 Plan?

Any employer can offer a Section 125 to their employees regardless of size.  No company is too small or large to reap the tax saving benefits that a Section 125 makes available.  The employees of corporations (Subchapter S or Subchapter C), partnerships, non-profit organizations, government entities, LLCs, LLPs, and sole proprietorships are all eligible to participate in a Section 125.

Participants of the plan must be employees of the plan sponsor. There are some circumstances where individuals cannot participate in a Section 125.  Please see the list below:

  • Self-employed individuals (but they can sponsor a plan)
  • Partners in a partnership (but the partnership can sponsor a plan)
  • A more than 2% shareholder in a "Subchapter S" corporation
  • An owner of a "Subchapter C" corporation can participate in the plan but is limited to only elect 25% of the total "pre-tax" contributions in the plan.

3.    What are the costs to the employer in offering this benefit? 

Precision Administrators, Inc. strives to keep our costs minimal while still maintaining a high level of service for you and your staff.

Our administration fees provide your employees and your company the following:

  • Professional, efficient staff that is accessible to answer questions, whether at the Employer or Employee level.
  • Personalized annual enrollment material
  • Group and individual enrollment meetings annually and throughout your plan year as needed.
  • Electronic Bill Pay
  • Debit Card access to FSA funds for your employees
  • Online account access for participating FSA Debit Cardholders
  • Electronic Deposits for employee reimbursements
  • Custom Billing Solutions (let us pay your voluntary benefit statements for you!)
  • 5500's provided to the IRS (when applicable)
  • Plan Documents & Administrative Service Agreements
  • Business Associate Contract
  • Privacy Statement

For more information concerning the start up costs, please contact us directly at group@paitpa.com