Partnering with a qualified Section 125 Cafeteria plan administrator will provide an up-to-date plan document and set up. Although note that not all documents and outsourced administration are equal. I hate to use a cliche, but "you get what you pay for".

For example, BPI - myCafeteriaPlan is a third party administrator that provides employers with documentation and ongoing outsourcing. Services you'd receive include:

Up-to-date Plan Document Summary Plan Description (SPD) master copy Corporate Resolution Customized Forms (enrollment, change of status, termination) Legal Review Attorney Opinion Letter Discrimination Testing Signature-ready Form 5500, if needed Powerful and easy-to-understand employee education

myCafeteriaPlan's documentation and plan set up incurs a one-time fee, as they do not charge a yearly renewal fee. Once an employer signs with myCafeteriaPlan, they will simply pay ongoing cost of administration. Some administrators charge a flat fee while myCafeteriaPlan's ongoing administration is determined by total number of participants, NOT accounts. As number of participants increase, cost per participant will decrease.

Visit www.myCafeteriaPlan.com or call 800.865.6543 to discuss setting up your pre-tax 125 cafeteria plan today, whether you need documentation only or documentation and ongoing administration.

These flexible spending accounts (FSA) are an easy way to supplement any gaps in your existing benefits program, save money for you and your employees, and is a great morale booster.

If you're a small employer that doesn't have a dental or vision plan because of costs. Implementing FSA will at least allow for your employees who have these types of out-of-pocket expenses to pay them on a pre-tax basis. Wouldn't it make your employees happy to be able to save 17% to 40% on a $5,000 orthodontic expense for a family member? That would equal a $1,250 tax savings for an employee in 25% tax bracket. Not to mention, it would save you over $380 in FICA taxes as well.

The FSA accounts are where administration hassles of receiving claims, verifying claims as eligible expenses, answering employee questions, reimbursing claims, etc. are seen. Which may lead you to consider outsourcing your ongoing administration through a qualified third party administrator. If you've only got a few participants in FSA in-house administration is something you can probably handle, but with monthly minimum administrative fees outsourcing is pretty economical.

Partnering with a qualified Cafeteria Plan Administrator such as BusinessPlans, Inc. (BPI) - myCafeteriaPlan will provide you and your employees with online account access 24-hours a day. As an employer, your 24-hour Internet access allows you to query reports, add employees, term employees, and check status of your plan around clock when you want and need your plan information.

Every organization has limits on resources it has available for use. Outsourcing will allow your company to focus and redirect its resources; most often people resources, from non-core activities to profit gaining activities.