What Are The Financial Benefits The CHAMP Plan™ Offers?

As a general rule, businesses exist to produce revenue. How they go about achieving this goal varies from business to business, but the ones who are most successful tend to be those that prioritize the health and happiness of their employees. Fortunately, employers who focus on this objective can also invite tax benefits into their businesses when they choose to sign up for the CHAMP Plan™. 

If you are used to seeing health benefits as a massive expense, you’ll likely feel differently about the CHAMP Plan™. Here are the financial benefits of implementing the CHAMP Plan™.

Financial Benefits of Implementing the CHAMP Plan™

The CHAMP Plan™ does not interfere with or replace any existing health insurance policy that your company has in place. Instead, it complements those plans by providing additional healthcare benefits. Those benefits are what your employees get, but employers like you also receive valuable financial benefits from signing up. 

Some examples of the financial benefits of implementing the CHAMP Plan™ include:

  • Access to pre-tax benefits under Section 125.
  • Companies receive a fixed savings of $573.60 and up to $1,880 in total savings per employee per year.
  • Reduces taxable income by $14,400 per year per participant ($1,200 x 12 months).

Employees also benefit financially, as the CHAMP Plan™ Increases employees’ pay by an average of $1,500/year net ($125/month). 

Is The CHAMP Plan™ Worth It?

You have nothing to lose by signing up for the CHAMP Plan™. On the contrary, your business has so much to gain! Your employees will be far happier with their access to healthcare services, reducing turnover and employee satisfaction. This alone makes the CHAMP Plan™ incredibly worthwhile, but there are plenty more benefits to speak of.