Foley-Connelly is your primary source for affordable IRS and DOL compliant Section 125 plan documents that allow employers and their employees to pretax, or avoid paying income tax on group health insurance premiums, healthcare expenses not covered by insurance, dependent and adult daycare, as well as parking and commuter expenses.

The Internal Revenue Service under Section 125 of the Code maintains that employers must establish a written plan document before these tax deductions are taken. The Department of Labor requires employers to establish a Summary Plan Description or SPD in easy to understand language that should be distributed to every employee participating in the plan.

Foley-Connelly provides employers with everything they need to be fully compliant with these requirements. Foley-Connelly Section 125 plan documents are custom prepared for each client. These are not “fill-in the blank” or “check-box” templates.

With the addition of HSA and Section 125 plans and Section 105 HRA plans, employers have more options to reduce health insurance premiums and taxes through the use of high deductible health plans (HDHP). Some of the premium savings can be used to cushion the effect of these new high deductibles to employees through either employee funded (HSA) or employer funded (HRA) spending accounts.

Section 125 Cafeteria Plan administration is available for those clients who prefer to outsource Section 125 FSA, HSA and or HRA administration. We provide several options including access to account information and funds via debit card.