WORKPLACE WELLNESS REDESIGNED

Health & Wealth Program

The Coronavirus Pandemic has taught us two things:

Healthcare services need to be flexible, accessible, and inexpensive.
Healthcare coverage needs to broaden to include risk management for every employee.

Employer Benefits

Employer’s benefit from providing a broader employee offering: More medical benefits at $0 copay, and supplemental benefits ($1,800/yr average) that reduce the risk for every employee from experiencing hardship from an unexpected medical cost or an emergency such as the Coronavirus. This helps attract and retain employees so necessary in this tight labor market. Also, there is a reduced FICA obligation netting you savings on average of
$500 per year per participant. No change or replacing any current insurance programs.

Employee Benefits

This program provides more healthcare offerings and greater financial security for employees and their families with no reduction to their take home pay. Participating employees have unlimited access to wellness and medical services within the Wellness Plan at $0 copay (e.g. Telemedicine, Wellness Coaching, Behavioral Health Counseling, Health courses) and an average of $150/mo to spend towards supplemental benefits to increase their financial security (e.g.life insurance with long term care, short term disability, accident, critical care, hospital indemnity).

How It Works

Voluntary + Participation Based

The program is a self-insured program comprising both a Wellness Plan and a Medical Expense Reimbursement Plan (MERP). It is a voluntary program and requires employee commitment to complete 4 activities/services per plan year for compliance, but with no maximum restraints on the value they can utilize. All services are found within a Health Dashboard provided to enrolled employees.

Program Premium

The premiums are deducted pre-tax as part of a section 125 cafeteria plan, creating tax savings, which employees use to buy supplemental insurance and pay their administrative fees.

Premium Reimbursement

The employee commitment to participate allows reimbursement of the employee premium through the self-insured MERP, on a post-tax basis. This reimbursement brings the employee paycheck back to whole, resulting in no reduction to their take home pay!

WE would like to introduce you to a program that will be of tremendous value to your business and your employees. Our program integrates the concept of a wellness plan called a SIMERP (Self-Insured Medical Expense Reimbursement Plan) and supplemental insurance products that pay first dollar benefits directly to an employee when they have a sickness or injury.

The value to your business is twofold:

1) You save approximately

$500.00 per employee per year

for each employee who participates in the program.
2) Your retention of employees increases due to the fact that you are offering them a program that gives them on the average $150.00 per month to purchase these supplemental plans with no reduction in their take home pay. That is a $1,800 annual amount to allow them to have disability, life, accident, and sickness plans at no reduction in their take home pay.

The values to your employees are twofold:

1) A wellness program that includes telemedicine services, discounted prescriptions, an annual health assessment, wellness counseling for smoking cessation, addictions, financial issues, and many other programs at $0 cost, co-payment, or deductibles.
2) Approximately $1,800 per year in funds to purchase disability, life, accident, and sickness coverages that help the employee to cover deductibles, co-pays, and pay living expenses when a sickness or injury occurs. AND…..with no reduction in their take-home pay.

The program is available to employees who are W-2, 30 hours per week or more, and participate in your company offered major medical or have group major medical through their working spouse. Also employees under age 26 can participate if they are on their parent’s group medical plan.

This program is an easy to establish, easy to administer program that creates a valuable addition to your employee benefit program at no cost to the employees and at a $500.00 annual savings in FICA to your business for each participant.

So…..if you’re like most employers taking 30 to 45 minutes to better understand how the SIMERP would benefit your business, then the next step is to arrange a webinar with The Wellness Reserve Group and enhancedcare, inc. the organization that manages the SIMERP.