Defined Contribution Plans

Defined contribution plans are set up by your employer and provide a way for you and your employer to pay your health insurance premiums out of pre-tax dollars. It operates much like your 401K retirement plan in that money is held out of each paycheck and put in an HRA account that you then access to pay your health insurance premiums and health expenses. Anyone with a pre-existing condition or any family member(s) with preexisting conditions should enroll in an ACA major medical plan through this exchange. These premiums can be paid from pre-tax dollars if your employer has established one of several defined contribution plans. If they have not set up a defined contribution plan, have them contact us to find out how financially beneficial it is to both the employees and the employer. Contact a licensed advisor for more information.