On average, employers see a net FICA tax savings of $500-$1,190 per W2 employee per year.
Preventative Care Health Plans offer your employees and their families access to extra health and wellness benefits without changing their take home pay. FicaTax takes a consultative approach, meaning we choose a plan that best suits your company and your employees. Depending on the plan selected, your employees will receive valuable services such as telehealth, mental health support, health screenings, urgent care visits, primary care visits, RX packages, and more. All at $0 copays and no out-of-pocket expense.
Every employer struggles with reducing their employee turnover. Implementing benefits at no out-of-pocket expenses to your employees is a great solution for employee retention. Oftentimes, it’s not financially feasible for a business owner to offer benefits, but with these plans, you are now able to do so without affecting their net take-home pay.
These plans do not disrupt your current health benefit plans, but rather stack on top. You will not need to make any adjustments to your current benefits in place.
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FicaTax Business Advisors offers a fully ACA-compliant FICA Reduction Program that enhances your employee benefits while driving real financial savings. This workplace wellness solution promotes healthier, more engaged employees — all while reducing payroll tax liabilities for both employers and employees. It’s a smart, cost-effective way to strengthen your benefits package and boost your bottom line.
Yes. The program is fully compliant with IRS tax code sections 125, 106, and 213(d), as well as Affordable Care Act (ACA) wellness regulations. It is structured to provide tax advantages while meeting all regulatory guidelines.
Yes. In fact, participation in the program requires that a major medical plan already be in place. This program is designed to enhance existing benefits—not replace them.
Reimbursements are processed within the same payroll cycle. Employees complete a qualifying annual wellness activity (such as health coaching), and tax-free medical reimbursements are then issued.
Yes. The gross tax savings are allocated into 213(d) compliant benefits that are predetermined during the implementation process. This ensures the funds are used appropriately and in full compliance with IRS guidelines.
The benefit reserve is used to fund a life insurance policy that includes living benefits. This structure provides both protection and access to funds in the event of a qualifying medical need.
Programs using this structure have been in place since the implementation of the ACA, which created pathways for wellness-based tax strategies paired with traditional group health plans.
Contact us for a no-obligation proposal, where we’ll provide you with a detailed savings estimate tailored to your company’s specific needs. Let FicaTax Business Advisors help you implement this innovative program that supports your employees and your business success.