Although there are constant changes in legislation, we do not foresee changes to this program in the near future. Eagle Preventative Care Solutions' ERISA attorney and other attorneys are constantly monitoring this and will notify everyone promptly if changes occur.
Yes. After enrolling in the program, you must access your Personal Desktop, view the compliance video, and schedule or complete a Health Risk Assessment (HRA). After that, you must meet monthly and/or quarterly objectives.
The Preventative Care Program requires members to log into the Personal Dashboard at least once per year. If you fail to meet this required participation criteria, you could be dropped off the program with the potential of losing all benefits received due to your participation. Eagle Preventative Care Solutions will make several attempts to reach you, but if we are unsuccessful, you will be dropped off the program and either lose your benefits or pay for them directly out of your check post-tax.
The effect would probably be minimal if you are approaching retirement age as Social Security is calculated on a 35-year average. One of the benefits we make available to employees is a Guaranteed Issue cash value life policy that usually accrues cash value at a higher rate than Social Security. (If you have specific questions on this effect, please consult your CPA)
No. A gym membership is a taxable benefit under the rules of this program.
Eagle Preventative Care Solutions calculates your Employee Benefits Enhancement at 95% of your annual income. Therefore, if you should miss a couple of days during the year, there should be enough in reserve to keep the programs active.
Yes. All benefits can be modified to cover your spouse and/or dependents.
The Employer decides the menu of options available for the Employee Benefits Enhancement.
No. Because you are pre-taxing the wellness program under a Section "125" Cafeteria program, the IRS has certain rules that must be followed. For instance, you cannot make any changes to the program until "Open Enrollment" each year unless there is a qualifying event. An IRS-approved qualifying event allows you to make changes during the plan year consistent with the event. Your Eagle Preventative Care Solutions advisor will explain this upon enrollment.
You will see additional line item deductions on your paycheck. To truly see the effect on your take-home pay, compare two identical paychecks (i.e., hours worked, same pay rate), and you will see either a very slight increase in pay or no difference in take-home pay.
You should always come out ahead as your taxable income is lowered by the Preventative Care Management contribution. Therefore, you are paying the correct taxes based upon your gross taxable income after the Preventative Care Management contribution. (For specific questions, please contact your tax advisor or CPA)
Yes. This is a tax-qualified wellness plan that uses tax advantage provisions under the Internal Revenue Service codes "Section 125 and 105" and the Affordable Care Act.