How does The CHAMP Plan™ work?

The CHAMP Plan™ is a self-funded and self-insured Section 125 Cafeteria benefit sanctioned by the IRS, allowing an employee to reduce their gross taxable wages on a pre-tax basis in exchange for qualifying medical benefits.

A Cafeteria Plan is a separate written plan maintained by an employer for employees that meets the specific requirements and regulations of Section 125 of the Internal Revenue Code. It provides participants with an opportunity to receive certain benefits on a pre-tax basis.