Shaffer Insurance Services, Inc. Benefits Division

Whether you’re a single person, single parent, part of a dual-income household, or a family person with a non-working spouse, Cafeteria Plan will provide you with additional benefits, more take home pay, and even allow you to establish an additional retirement plan with your tax-free dollars.

Key Benefits

• Single Parents
  
  If a single parent earns $19,200 and has two children, and if she uses Cafeteria Plan to pay the premium for dependent medical coverage and to pay for the cost of medical deductibles and dental care for this year. In addition, if she has opted to pay her child care expenses out of her pre-tax dollars. In this way, she increases her take home pay by $109 each month … or $1,308 this year. That’s an additional 15% take home pay
   
• Working Couples
  
  If a man and wife both work. They have two children. The husband makes $27,500 and his wife earns $14,500 per year and they use Cafeteria Plan to help pay the premium for dependent medical coverage and pay for the orthodontist bills for the children. With both of them working, they also utilize the plan to pay for necessary childcare expenses. This couple increases their monthly take-home by $220 … or $2,640 this year. That gives them additional money for the emergency expenses every family has … and allows them to set some money aside to fund an additional retirement plan!
   
• Family Person with Non-Working Spouse
  
  With a grown children, and only one spouse working, this couple has no childcare expenses. The annual salary of the working spouse is $48,000. They use Cafeteria Plan to pay the premium for dependent medical coverage, meet their medical deductibles, and pay dental expenses. Cafeteria Plan gives this couple an additional $134 monthly take-home, or $1,608 this year … a nice raise for the family budget!