During a recent government meeting, officials discussed the implementation of the Champ Plan, a Section 125 plan designed to enhance employee benefits while providing tax savings for both employees and the municipality of Osage County. The plan, established by Congress in 1968, allows companies to offer pre-tax employee benefits, resulting in increased take-home pay and reduced payroll taxes.

The Champ Plan boasts a high enrollment rate of 91% among employees, with a retention rate nearing 100%. It aims to improve employee health and financial well-being by offering a range of services, including free doctor visits, unlimited urgent care, and telemedicine consultations. The plan also incorporates a predictive modeling platform that personalizes health management for employees, encouraging proactive healthcare engagement.

Financially, the Champ Plan is projected to save Osage County approximately $573.60 per employee annually on FICA taxes. For the county's 109 employees, this translates to a total savings of around $57,360 each year. Additionally, employees can expect an average increase in their paychecks of $1,500 annually, thanks to the tax benefits associated with the plan.

The meeting highlighted testimonials from businesses already utilizing the Champ Plan, emphasizing its positive impact on employee health and satisfaction. The plan is positioned as a win-win for both the county and its employees, providing enhanced benefits without additional costs to the municipality.

Next steps involve gathering employee data to assess individual financial impacts and begin the enrollment process. The officials expressed optimism about the plan's potential to improve employee welfare while simultaneously benefiting the county's budget.