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A Section 125 Cafeteria Plan can be a great tool to help combat rising health care costs. This plan allows employees to pay for eligible qualified benefits through payroll withholding on a pre-tax basis, which means such contributions are not subject to Federal or Ohio income tax or Social Security & Medicare taxes. In addition, employers do not have to pay FICA, Medicare or Federal Unemployment Tax on the wages contributed to the plan by employees. The lower taxable income of the employees also results in lower workers compensation premiums paid by the employer.
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