Offering good employee benefits is one of the best ways to attract and keep great people. But many employers still do not know about one of the most helpful benefit programs available. It is called the Elevate+ Plan. This plan is a better version of benefits cafeteria plan and uses Section 125 in a smart way. It helps both employers and employees save money while also giving better healthcare support. 

In this blog, we will explain what cafeteria plans are, how Elevate+ is different from regular plans, and why it is a smart and simple choice for any business.

What Is a Cafeteria Plan?

A cafeteria plan is a type of employee benefit plan that falls under Section 125 of the IRS Code. It lets employees choose from a list of pre-tax benefits, like health insurance or dependent care.

But Elevate+ is not just a Section 125 plan. It leverages Section 125, and combines it with two powerful programs:

• Preventative Care Management Plan (PCMP)
• Self Insured Medical Reimbursement Plan (SIMRP)

This makes it one of the most compliant and benefit-rich programs on the market today.

What Makes Elevate+ Different?

Many businesses already use Section 125 plans. But Elevate+ offers much more. It gives extra care and savings that regular plans do not provide. Here is how it works in a simple way:

• Fully Managed Preventative Care Plan (PCMP): Employees get access to wellness support, health dashboards, and Mayo Clinic tools. This helps the team stay healthy and avoid extra doctor visits. It also helps reduce insurance claims over time.
• Self Insured Medical Reimbursement Plan (SIMRP): This covers health costs that normal insurance does not. Employees get more value and coverage without any extra cost to the employer.

Key Employer Benefits of Elevate+

Employers who provide Elevate+ are able to realize immediate cost savings and long-term advantages, it has the following 125 cafeteria plan benefits:

• Save around $600 annually for each W2 employee. For an organization of 100 employees, this can translate into saving some $60,000 per year.
• No up-front cost to the employer to administer the program.
• Lower claims by around 5-10% due to improved health management via PCMP.
• Quick and automated implementation within 30 to 45 days, so you begin to save money right away.
• Increase employee performance and retention by providing better benefits and creating a healthy environment.
• Quick bottom-line boost from tax savings and healthier workers.

Big Benefits for Employees Too

Employees also gain many advantages from the Elevate+ plan:

• A  $100 increase in net pay, which means more money in the paycheck 
• $0 copay with round-the-clock telemedicine, virtual care, wellness, and mental health services
• Access to Mayo Clinic tools and a personal health dashboard to track and improve health.
• Enhanced benefits like health vitals, facial scan tools, addiction recovery support, employee assistance program, and couple counseling 
• Covers employees’ spouses, families, and dependents

Why Should Employers Act Now?

In today’s world, good benefits are more than just health plans. They show your employees that you truly care about their well-being. At the same time, the right benefits can also help your business save money and grow. With Elevate+, you are not just giving a regular benefits plan. You are giving a smarter and more tax-friendly option. This plan helps employees stay healthy and feel more loyal to your company. It is also one of the most trusted and complete plans available today. Elevate+ brings real value to both employers and employees in a simple and easy way.

Conclusion: All You Need to Know About Cafeteria Plans

The Elevate+ Plan is a smart and simple way to offer better section 125 plan benefits to employees and employers. It helps your business save money, gives your employees more support for their health, and a lot more benefits. With no extra cost to you and quick setup, it is easy to get started. Your employees will see more money in their paychecks and get access to helpful health tools. More than many thousands of employees already use this plan. 

If you want to improve your team’s well-being and grow your business, the Elevate+ Plan is a strong and reliable option that works for everyone.

Get to Know More About The Benefits

Want to see how Elevate+ and 125 cafeteria plan benefits and how it can make a real difference for your business? Talk to an expert or get a free proposal today. Save money, improve health benefits, and keep your team happy with a simple and smart solution.