Hilltop Bank offers secure and confidential Section 125 Cafeteria Plan Administration and attorney-approved Plan Documents. We are able to administer several accounts for your employees, including Medical and Dependent Care Reimbursement Accounts and Insurance Premium Savings Accounts. Take advantage of these tax savings accounts that benefit both employers and employees! Enhance your benefits package and retain employees with a Section 125 Cafeteria Plan.
HILLTOP BANK SECTION 125 CAFETERIA PLAN SERVICES INCLUDE:
• Enrollment and employee education materials and meetings
• Assist employer/plan sponsor with ongoing operational and compliance support
• Required attorney-approved plan documents—including the Summary Plan Description
• Maintain monthly record keeping of all payroll contributions
• Adjudication and timely processing of claims—easy claims upload with our participant portal and mobile app
• Issue reimbursement via checks, direct deposits, and/or debit card access
• Plan year-end reporting and compliance
• Undertake confidential maintenance of all records
• Provide 24-hour access to plan account provisions, account balances, and claims detail for employees on the participant portal
In order to meet IRS and ERISA compliance requirements, your plan must be in writing. Hilltop will supply you with the necessary documentation to meet these requirements. Plan setup, document and monthly processing fees apply.