MN Offering Grants to Set Up Section 125 Plans!!

DEED Offering Grants for Section 125 Plans

ST. PAUL – Small businesses of two to 50 employees are eligible to apply for $350 grants to make it easier for employees to purchase health insurance coverage.

The grants from the Minnesota Department of Employment and Economic Development (DEED) can be used to help employers who do not offer health insurance benefits to set up Section 125 plans. Under a Section 125 plan, participating workers can save money by paying for their own insurance with pre-tax earnings instead of after-tax dollars. Employers, in turn, will save money on Medicare and Social Security contributions.

While setting up each plan will be relatively inexpensive, the grants will help offset initial administrative costs. To apply for the grant, employers must complete an application and submit it to DEED.

An application for a Section 125 grant and other details about the program are available at www.deed.state.mn.us/bizdev/HealthInsSection125Plans.htm . Questions may be referred to Samantha DiMaggio at 651-259-7426 or samantha.dimaggio@state.mn.us Samantha.dimaggio@state.mn.us .

Heres the actual link if you’d like to look at the source; http://www.deed.state.mn.us/news/release/2009/bus14Oct09Section125Grants.htm

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