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September 2007

Connecticut Enacts Cafeteria Plan Mandate

Connecticut, Rhode Island and Missouri recently followed Massachusetts in enacting a requirement that certain employers establish cafeteria plans under Section 125 of the Internal Revenue Code. Cafeteria plans are vehicles that permit, among other things, pre-tax payment of health insurance premiums.

Connecticut's Cafeteria Plan Mandate

The Connecticut law requires any employer that provides health insurance benefits, paid at least in part through payroll deduction, to give employees the opportunity to have their contributions excluded from their gross income for state or federal income tax purposes. The law does not define the term employer or include a threshold number of employees. Unlike the Rhode Island law, however, it applies only when the employer provides health insurance benefits to its employees.

The new Connecticut law was signed on July 10, 2007 and is effective October 1, 2007.

CBIA's Section 125 Premium Only Plan Document

To assist you and your CBIA Health Connections clients to comply with the mandate, CBIA has developed a free Section 125 premium-only plan document that is available on the CBIA broker Web site (under the Tools section). You simply point and click your way to a customized document in seconds. Take advantage of it now!


Save the Date

CBIA Health Connections
Annual Agent Conference

Thursday, Nov. 1, 2007, 8 a.m.

Chevrolet Theatre, Wallingford, CT (formerly the Oakdale Theater)

Look for your invitation in a couple weeks.


REMINDER:
The Power of Choice is Now Available for Dental Products

New CBIA Health Connections dental suites are available October 1 for new and renewing business. These new suites give your clients choice of dental plan and are sure to be a hit! Visit our Web site for more details.

 

 

If you have any questions regarding the contents of this Agent Update, please contact your CBIA Sales Team.

 

 
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