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Better Benefits. Lower Payroll Costs
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A Self Insured Medical Expense Reimbursement Program (SIMERP) is an employer-sponsored workplace program that allows employees to supplement their benefits with zero net out of pocket costs.
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SIMERP reduces business payroll costs by approximately $1,150 per W2 employee, and results in an increase to the bottom line of the organization.
Benefit to the Employer.
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No out of pocket cost + approximately $1150 in net EBITDA increase per employee per year. Additional potential to save on insurance premiums.
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Increase in business profitability & valuation by directly decreasing payroll expenses.
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Increased employee satisfaction & retention.
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Benefit to the Employee.
Increased benefits at $0 out of pocket cost. Benefits such as health insurance, life insurance, and other VB available. With healthcare extending to their family.
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Increase in Take Home Pay.
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Increased satisfaction with employer and benefits plan.
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The approximate $1150 per employee savings directly increase your EBITDA & enterprise valuation by decreasing payroll expenses. Benefit plans underwritten this way are made possible through the Affordable Care Act, Section 125, Section 213(d) & Section 105 of the Internal Revenue Code.
$0 Copay
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12 Rx Home Deliveries
12 Virtual Urgent Care Visits
12 Virtual Primary Care Visits
12 Virtual Counseling Sessions
Primary Care
Generic Rx
Hospital Bill Advocacy
Document Collection
Gather Payroll Documents.
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Underwriting & Calculations
Eligibility Review and Pro forma Creation.
Implementation & Education
Educate team and implement benefits.
Benefits & Savings
Activate Benefits & Optimize the Company.
FAQ
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How do the savings work for the employer?
No it does not affect anything you currently offer, in fact it complements it, and adds a layer of coverage team members don’t have to pay for out of pocket.
Will this affect any coverage we have in place?
No it does not affect anything you currently offer, in fact it complements it, and adds a layer of coverage team members don’t have to pay for out of pocket.
Is the Enrollment Process a burden?
Easy 1-click auto enrollment. No long, burdensome setup and enrollment like with Major Medical. Total time needed from your team is 1.5 hours, and coverage can be live in 45 days.
How is this possible where I don’t need to pay out of pocket?
Sections of the Affordable Care Act & Internal Revenue Code reward employers for offering benefits to their employees. We work with insurance carriers which will underwrite plans for your business where the net cost of coverage is less than the net tax savings generated. All businesses and all employees will not qualify for this, but many will.
What do these plans cover?
These group health plans do a great job of covering low ticket medical services. Such as labs, prescriptions & urgent care visits. They often do not cover the largest drivers of health insurance costs such as specialized treatments, hospital visits, critical illness treatments and other large expenses.
How does this benefit my team?
Your team will now have health coverage they do not need to pay for.
How does this benefit my company?
Outside of greater employee retention, and a better benefits package, your business will net tax savings after the cost of benefits is covered.
How does my business qualify?
Your business must have at least 10 W2 Employees earning more than $25,000. Employees must each individually qualify as well. Once we collect your payrolls, we will perform a mathematical test for each employee factoring in their gross pay, withholdings, deductions, tax filing status and allowances to determine their eligibility.
What documents will you need from us?
Last Month’s payroll and a payroll employee roster.
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