Information on Full Flex Plans & Transportation Benefit
BMS LLC
provides administration for Full
Flex Plans. These types of 125 Plans can be designed in several different ways.
Their main purpose is to provide more flexibility to employees when choosing
their benefit package. This can include so-called "Flex Credits" wherein
employers offer a certain dollar amount each Plan Year that the employee can use
to purchase qualifying benefits under a pre-tax plan. Full Flex Plan includes
components of both
Premium Only Plans and
Flexible Spending Accounts.
BMS LLC also provides administration for Section 132 Transportation Benefit Programs, providing up to 40% savings on a employee's commute. This plan is available to those Employer who implement and qualify for a Section 132 Plan. Eligible expenses include:
- Bus
- Ferry
- Parking at or near work
- Parking at or new public transportation
- Streetcar
- Subway
- Train
- Vanpool (seating for 6 or more adult passengers, excluding driver, 80% of mileage is to transport employees and 50% of seating capacity is used for employee transport.