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What is a Cafeteria Plan?
Similar to picking These are benefits that are paid from your paycheck but are not taxed. It is similar to how you select the food items you want to eat when you go to a cafeteria. Reliant’s , Reliant’s Cafeteria Plan allows employees to “select” certain benefits they would like to utilize.When an employee submits their choose three optional benefits. When you submit your annual Cafeteria Enrollment Form each year, you are authorizing authorize Reliant to make the deduction(s) from their your monthly paycheck . Each authorization for Cafeteria benefits is designed to last for the rest of the calendar year in which the Cafeteria Enrollment Form is submitted. Therefore these for that year. These benefits must be renewed each year during Open Enrollment. Failure to re-enroll during Open Enrollment means you will lose the opportunity to utilize the benefit for that year. Again, these benefits are tax free (meaning that neither FICA taxes, nor FITA taxes are withheld)! Cafeteria Plan offering will contain the following three benefits:the following year. Reliant offers a Cafeteria Plan primarily for the tax free benefits it affords our employees.
The payment for any benefit chosen in the Cafeteria Plan will be deducted each month from your paycheck.
You will see these payments are in the “pre-tax” category on your monthly pay stub.
Neither Federal Income Tax nor FICA Tax are deducted on your Cafeteria Plan benefit that you choose.
No employer FICA matching portion comes out of the MTD account you’re responsible for for the value of your Cafeteria Plan Elections.
What is available on the Cafeteria Plan?
- Health Savings Account (HSA) - Employee Contribution
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- See HSA - Health Savings Account for more information. Employees can make changes to employee contribution through the cafeteria form.
- Vision Plan Benefit
- Vision premiums are paid for by you, the employee, out of your monthly paycheck. See also Vision Insurance. Employees can only elect to participate in the Vision benefit during Open Enrollment or when they are hired,
- Child-Care Benefit
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- With the Child-Care Benefit, employees submit child-care expenses for reimbursement from the tax-free employee contributions set aside from their monthly paychecks. This enables you to pay for your child-care expenses tax-free! For a full description of the Child-Care Benefit, see Child-Care Benefit and Reliant Dependent Care Assistance Plan. If you desire to elect the Child-Care Benefit, you will need to also enroll in the cafeteria plan to sign up for your Child-Care Benefit Employee Contribution.
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Why does Reliant offer a Cafeteria Plan?
Reliant does this primarily for the tax benefits it offers our employees. The contributions/payments for any of these three benefits are processed on a pre-tax basis. So they will be taken from your monthly paycheck before any Federal Income Taxes or FICA Taxes are withheld. Thus, your tax savings could really add up! (In addition, there is no Employer FICA applied taken out of the MTD account you're responsible for, for these monthly contributions)
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- Employees can only elect to participate in the child-care benefit during Open Enrollment or when they are hired or become benefits eligible.
Governed by the IRS
A "Cafeteria Plan" is a concept that is made possible by IRS regulations. They allow certain deductions to be made in pre-tax manner. Please Please be aware that the IRS also sets maximums for the allowed benefits. AlsoAlso, these benefits may need to be documented or reported with your annual tax return.
Cafeteria Plan elections are submitted as part of the hire or annual Open Enrollment processes. Annual elections made outside of Reliant's Open Enrollment period are subject for review and may be deemed ineligible if they are submitted past the payroll changes deadline (usually by December 20th, to be effective starting January 1st).
Who needs to submit a cafeteria plan form?
All missionaries enrolling in the HS 5000 (HSA), HS 3000 (HSA), HS 1500 (HSA) or EyeMed Vision Insurance field workers enrolling in Guidestone medical insurance or EyeMed vision insurance plan need to review the section below regarding the cafeteria plan. You During Open Enrollment, these selections are integrated into the open enrollment form. If you have need to enroll in or change your HSA contribution mid-year, you can submit your cafeteria plan options at Cafeteria Plan Enrollment Form.
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| All employees currently enrolled in the Cafeteria Plan need to submit a new Cafeteria Plan Enrollment Form EVERY YEAR. Please submit your form by the open enrollment deadline each year. |
Tax benefits for you
- HSA employee monthly contributions (through Reliant payroll) are treated as pre-tax deductions
- Vision Plan Benefits monthly premiums are deducted from your paycheck pre-tax.
- Child-Care Benefit employee monthly contributions are deducted from your paycheck before taxes as well.
- Employee's pre-tax contributions/payments are not subject to federal income or social security tax. (It also means NO employer FICA matching portion comes out of the MTD account you're responsible for.)
Cafeteria Plan advantages
Reliant offers a Cafeteria Plan primarily for the tax free benefits it affords our employees. The contributions/payments for any of these three benefits are processed on a pre-tax basis so they will be taken from your monthly paycheck before taxes. This includes both Federal Income Taxes and FICA taxes, too! Thus, your tax savings could really add up!
With the Child-Care Benefit, employees are able to submit child-care expenses for reimbursement using the tax-free employee contributions set aside from their monthly paychecks. This enables you to pay for your child-care expenses tax-free!
Tax benefits for you
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The payment for any benefit chosen in the Cafeteria Plan will be deducted each month from your paycheck.
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You will see these payments are in the “pre-tax” category on your monthly pay stub.
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Neither Federal Income Tax nor FICA Tax are deducted on your Cafeteria Plan benefit that you choose.
using the current year cafeteria plan throughout the year. New Hires are also eligible to submit a Cafeteria Plan form that will be effective from their date of hire, beginning with their first paycheck.
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| These selections are included in Reliant's Open Enrollment Form. Please submit your form by the Open Enrollment deadline each year |
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Things to keep in mind
The benefits offered on the Cafeteria Plan have to be elected by you each year.
They DO NOT automatically roll over into the next year. You must submit a NEW Cafeteria Form EVERY YEAR.
So
,even if you are planning to continue your participation in these benefits in the same manner as the previous year, a
newnew selection must be made EACH YEAR during Open Enrollment
. Each Selection will last for the entire year.
The contributions selected for Vision
, Employee HSA Contributionsand Child Care Benefit will be applied to paychecks
from January to December, 2018, orfor the entire year
. Partial year contributions are not allowed.or dates of employment for the year.
A status change that changes a employee's benefits eligibility is allowable as a qualifying event to add or drop vision coverage.
Benefits eligible employees may make, change, or revoke HSA salary reduction elections at any time during the plan year
Changes to selections are only allowed mid-year if there is a qualifying event experienced by those utilizing the benefit. Qualifying events are things like births, marriages, changes in eligibility, etc.
To take advantage of Reliant's Cafeteria Plan, you can choose ANY one of the three options. You do not need to be enrolled in all three.
Things to keep in mind
- Employees need to stay enrolled in the Vision Plan for the entire year if the Vision Benefit is elected.
- Employees need to stay enrolled in the Child-Care Benefit for the entire year, if this Benefit is elected. Child-Care funds must be used up during the calendar year in which they are elected. Child-Care funds do not carry over to the next year.
- To take advantage of Reliant's Cafeteria Plan, you only need to either select the Vision Plan Benefit, Health Saver 1500, Health Saver 3000, Health Saver 5000 Employee HSA Contributions, or the Child-Care Benefit. You do not need to be enrolled in all three.
- The yearly maximum contribution amount for the Child-Care Benefit is $5,000.
- For the Child-Care Benefit Plan, employees submit their child-care expenses directly to Reliant for reimbursements in a manner very similar to how they currently submit reimbursements for their Reliant ministry expenses. See Child-Care Benefit.
Employee HSA Contributions Changes
Cafeteria forms elections are designed to be elections for the entire year. The Cafeteria Plan outlines hardship situations for which the contribution can be modified. These include significant changes in family income, changes in family structures and financial hardship. Reliant encourages keeping your HSA election for the entire year. Exceptions may be requested by writing HR@reliant.org according the normal payroll submission deadlines. When changes are granted, changes only apply to future contributions. Employees seeking a change should expect that the change will apply to the rest of the calendar year.
Resources
- Cafeteria Plan Enrollment Form
- Health Saver (HS) Plans
- Vision Insurance
- Full Cafeteria Plan document (PDF)
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However, the HSA election is only available to employees that are benefits eligible with Reliant and have elected Reliant's medical insurance.
To Enroll
Use the following link to enroll in the cafeteria plan:
