The Preventative Care Management Program is an ERISA qualified Self-Insured Medical Expense Reimbursement Program (SIMERP™) that emphasizes a Participatory wellness program. The Plan is voluntary and is a health-plan related program. The wellness program offers a personalized health dashboard with access to numerous preventative and medical benefits that improve the life and health of employees.
Participation in the SIMERP™ wellness program requires the employee to have an active sponsored medical plan. By pre-taxing these plans under a Section “125” Cafeteria Plan, tax savings for each participating employer and employee are created. The SIMERP™ allows for premium reimbursement for the wellness medical expenses that qualify under a 213(d).
The program derives from the Affordable Care Act initially put in place back in 2010, which combined aspects of the section 125 pre-tax employee plan (put in place under ERISA act of 1974), improved efficiency in the healthcare industry (put in place under the HIPPA act of 1996), and the hyper focus of the U.S. government to provide employees proper benefits, post Covid-19.
*ERISA – Employee Retirement Income Security Act of 1974, *HIPAA – Health Insurance Portability and Accountability Act of 1996
*ACA – Affordable Care Act of 2010
Over the course of the last few years, the small business market has been flooded with programs such as PPP, ERC, EIDL, etc. As a result, the program was shelved to make way for these new high value business support programs. Now, as we fast forward to today, many of those programs are coming to an end, businesses are now focusing on ways to save money while also increasing employee health and productivity.
By helping provide these supplemental benefits and wellness programs to employees, the government can help ensure employees stay working (payroll taxes are collected), employers continue to hire (payroll and corporate taxes are collected), and insurance coverage for all working U.S. citizens continues (less utilization of Medicare and Medicaid government subsidized insurance platforms), the government can continue to generate taxpayer income
Employers with 20 or more full-time employees. Employees must be full-time & W-2 with major medical coverage.
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