Section 125 Plans in Woodbridge, NJ
Benefits cost money, and every employer wants that money to go further. Lincoln Risk Management Corporation helps businesses in Woodbridge, NJ set up Section 125 plans, including Premium-Only Plans and plans for critical illnesses, as part of a well-rounded benefits package.
Two Types of Plans to Consider
We work with employers on two kinds of arrangements:
- Section 125 plans for critical illnesses (cancer, stroke, heart attack, etc.)
- Section 125 Premium-Only Plans (POP)
Each serves a different purpose. One focuses on protection against specific serious illnesses. The other focuses on how premiums are handled. Many employers look at both when they review their benefits for the year ahead.
Premium-Only Plans (POP)
A Premium-Only Plan is one of the most straightforward Section 125 arrangements an employer can offer. It centers on the premiums your employees already pay for their coverage.
Because some of these plans offer tax advantages, a POP can be worth a close look for any business that already offers insurance to its staff. We'll explain how it would apply to your current benefits and what setting one up involves for your company.
Critical Illness Plans
A diagnosis of cancer, a stroke, or a heart attack brings costs that go well beyond the hospital bill. Critical illness plans under Section 125 are designed with those specific conditions in mind.
For employees, this type of coverage adds another layer of protection during a difficult time. For employers, it's a way to strengthen a benefits package without rebuilding it from scratch.
Building a Stronger Benefits Package
Section 125 plans work best alongside the coverage your team already relies on. Many of our business clients start with group health insurance and then add Section 125 options on top.
Others pair them with disability and other insurance, such as short-term and long-term disability, group life, and voluntary benefits. Together, these plans give employees broader protection and give you more ways to compete for good workers.
How We Help Employers
Every engagement begins with a free insurance evaluation. We review the benefits you offer now, talk through what you'd like to add, and identify which Section 125 options fit your workforce and budget.
From there, we shop around and present the choices clearly so you can make a confident decision. We work with employers in Woodbridge and nearby towns such as Carteret, Linden, and Rahway.
To see our full range of business and personal coverage, visit the Lincoln Risk Management Corporation.
Every conversation starts with a free insurance evaluation. Call or text us at (732) 814-7979, or use our alternate line at (908) 329-7936. You can also send a request through our online quote request form or find more ways to reach us on our contact page.
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Section 125 Plans FAQ
What Section 125 plans do you offer?
We offer Section 125 Premium-Only Plans (POP) and Section 125 plans for critical illnesses such as cancer, stroke, and heart attack.
Which illnesses do critical illness plans address?
These plans are built around serious diagnoses, including cancer, stroke, and heart attack. We'll review the specific conditions each plan includes during your evaluation.
Do Section 125 plans offer tax advantages?
Some of these plans offer tax advantages. During your free evaluation, we'll go through which options apply to your business and how they fit with the coverage you already provide.
Can Section 125 plans be combined with other employee benefits?
Yes. Employers often pair them with group health insurance, short-term and long-term disability, group life, and voluntary benefits.
How do I get started?
Call or text us at (732) 814-7979 or (908) 329-7936 to request a free insurance evaluation. You can also send a request through our online quote form.