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Background
Since 1988, WATDA Services, Inc. has administered this
flexible benefit plan for WATDA members at extremely
competitive prices. Dealers offer this employee benefit
plan as a way to help control costs by reducing medical
expenses while meeting the diverse needs of their workforce.
By employees calculating their incurred expenses for
the year, your employees can save, on average, 30% with
pre-tax savings.
What is a Cafeteria Plan?
A Cafeteria Plan allows your employees to select individualized
benefits on a pre-tax basis by utilizing salary reduction.
Cafeteria Plan benefits include:
- Health and dental insurance premium
- Dependent care reimbursement
- Medical reimbursement for certain health care expenses
not covered by insurance
Participation allows your employees to pay for benefits
with pre-tax dollars. With this plan, you deduct a predetermined
amount from your employee’s paycheck before taxes.
Thus, they do not pay federal, state or social security
taxes on the dollars deducted. In essence, these tax
savings become your employee’s increased spendable
income. By electing to redirect a portion of their salary
into the Cafeteria Plan before taxes are deducted, your
employees essentially use tax-free money to pay for
benefits for themselves and their families.
WATDA Services, Inc. will provide the testing and legal
documents necessary to get your plan started. WATDA
Services, Inc. will also provide both group and individual
consultation.
To schedule a meeting to learn more about If you are
currently enrolled and have this program, contact: questions
about your plan, contact:
Current participants in the Cafeteria Plan can now
check their account status online at
http://admin.watda.org
Contact Rebecca Barefield for assistance
with logging on to the superadmin website.
To
print a reimbursement form click here.
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