Section 125 Plan Services
American Fidelity Assurance Company is OASBO’s exclusive benchmark provider for Section 125 Plan services. American Fidelity currently provides Section 125 Plan services to more than 400 Ohio schools and has been a sponsor of OASBO for over 15 years.
What is a Section 125 Plan?
A Section 125 Plan allows employees to purchase eligible benefits with pre-tax dollars, helping them and your district save money in taxes. Employees can also take advantage of Flexible Spending Accounts that let them set aside pre-tax dollars to gain reimbursement for eligible medical and dependent day care expenses.
Section 125 Plan Features
- Services offered at no cost to districts or employees
- FSA risk covered by American Fidelity
- Includes sample plan documents, annual updates, administrative guides, and newsletters with IRS updates
- Account representatives educate and enroll employees into the plan
- Online account access for benefits managers and employees at americanfidelity.com
- Direct deposit of reimbursement
**An attorney should be contacted for advice on or review of the contract associated with a Benchmark Program**