MENUMENU
  • Login:
    • Report Self-Service
    • Employee
    • Employer
      • Platinum Pay
      • Xpress Pay
Header Menu
Compass-i: Payroll and HR ServicesCompass-i: Payroll and HR Services
Compass-i: Payroll and HR Services
  • PAYROLL
  • HUMAN RESOURCES
  • TIME KEEPING
Menu back  

Understand & Make the Most New Healthcare Laws

November 4, 20114 CommentsIndustry NewsBy

What if you could offer your employees’ the tax benefits of group health insurance without any of the headaches or costs?

Well you can! No need to pinch yourself, you aren’t dreaming… this is REAL! It’s called the Health Care Reimbursement Plan (HCPR Plan). It came out in the 2009 legislation and falls under the Premium Only Plan (P.O.P).

With HCPR employees can have individually owned healthcare premiums deducted from their paycheck on a pre-tax basis. HCPR is designed as an alternative to group coverage. So, let’s get down to the good stuff…. your benefits as an employer. Your benefits include (but aren’t limited to) the following:

  1. Tax advantage– Don’t pay Medicare, Social Security, or unemployment insurance          taxes on the amounts that employees choose to have withheld from their paychecks on a pre-tax basis.
  2. Fixed benefits costs = control and predictability
  3. Easy and inexpensive set up
  4. Better employee retention– you can offer better coverage and more affordable choices!
  5. Healthier employees! Studies have shown will quit smoking, improve their dieting habits, or start working out in order to lower their own health premiums. This probably means your employees will be using less of those sick days!
  6. Individual plan = portability. It is the employees plan even if they switch employers, which means you don’t have to worry about COBRA

Now why is Compass-i, a human resource and payroll company, blogging about healthcare?!  Several reasons…

  1. We are responsible for setting up the plan documents. Compass-i works with you and your insurance broker during the enrollment process and completes your HCPR Plan documents.
  2. We can administrate the HCPR plan through your payroll so you and your employees get the appropriate tax benefits your plan provides.
  3. A lot of health insurance providers, larger payroll firms and third party administrators (TPAs) aren’t really that interested in supporting HCPR because there is more money in large group plans, but Compass-i is always looking for the most cost-effective solution for our clients.



If you have any questions or are interested in learning more about HCPR, please comment below, call (480) 893-1394 or email info@compass-i.com. We are always happy to help!

Thanks for reading! Until next time…
Kaitlin Shank
Compass-i. “Giving Direction. Pointing to Solutions.”

benefitCompass-iDefined ContributionemployeesemployerHCPRhealth insurancehealthcarehuman resourcesP.O.PpayrollPlanSection 125tax
Related posts
Did You Get a Health Care Rebate?
August 1, 2012
Top Ten Payroll Mistakes Companies Make
June 22, 2012
Classifying Independent Workers – Are You Doing It Correctly?
May 21, 2012
Just Another Benefit of Outsourcing Payroll…
May 7, 2012
Still waiting for your tax refund?
May 1, 2012
HSA Updates for 2013
March 19, 2012
4 Comments
  1. Reply
    November 11, 2011 at 4:57 am
    Gas Grill

    Great! Thanks for the share!

  2. Reply
    November 16, 2011 at 12:23 am
    Family Vacation Ideas

    Nice color choice on the blog. It is really easy on my eyes and I have bad eyes too so that’s a really big compliment lol

  3. Reply
    December 9, 2011 at 4:15 pm
    Wilmer Vickrey

    I like this post, enjoyed this one regards for posting .

    • Reply
      December 16, 2011 at 7:06 pm
      kaitlin.shank@compass-i.com

      Glad you enjoyed it Wilmer. Thanks for stopping by!

Leave Comment

Cancel reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

clear formSubmit

Blog Categories
  • Compass-i News(7)
  • Events(5)
  • Fun and Payroll(6)
  • Industry News(10)
  • Interest(1)
Compass-i: Payroll and HR Services
  • Blog
  • Resources
  • Our Purpose
  • Contact Us
Footer Menu