What does POP mean? Read on to discover the definition & meaning of the term POP - to help you better understand the language used in insurance policies.
The premium only plan (POP) is an initiative that was put into place by the U.S. Congress and added to IRS Code Section 125. It is intended to make premium payments for group benefits more affordable for employees. The POP allows employees to use money from their salaries to pay the premiums for their benefits programs pre-tax.
We hope the you have a better understanding of the meaning of POP.