Employers are increasingly viewing Wellness as a vital way to help control business expenses tied to benefits and disability, while simultaneously improving employee health, morale, productivity, and absenteeism. We focus on designing and implementing affordable and effective programs so your employees can maintain and improve their health across the continuum of care with no reduction in take home pay, and no additional out of pockets costs to the employer.
Our participation based Wellness Plan is either stand alone or a companion to any existing program. It is a robust wellness program that produces high participation and interaction due to increased benefits, and strong employee incentives to comply. Employee participation earns a preventative reimbursement that creates a post tax “Wellness Reserve” to purchase qualified supplemental ancillary benefits, e.g. Whole Life policies, accident, critical illness etc... The Wellness Reserve averages ~$150/month. Participation allows employees to achieve a "net-zero" cost for additional health care and life enhancment products and services, which reduce annual medical care expenses. The program creates a high employer value guaranteed ROI with a FICA benefit for each participant averaging $550 per year. The program may reduce total costs of benefits within the organization by providing higher employee attraction and retention capability with healthier outcomes and reduced claims. This fully vetted, compliant program incorporates the benefits of a limited medical plan with an ERISA compliant life enhancing program under “Medical Care” provisions of the IRC. The Benefit Plan is a leading health and wellness platform, utilizing the IRS Section 125 plan.
In order to participate, employees must have major medical coverage through their employer, their spouse’s employer, or some other non-subsidized major medical provider. (We are able to help with Minimal Essential Coverage as well, to allow the employee to participate.) Please contact us to find out if your company qualifies.
Here is how it works:
Submit a Quick Census and we will then provide a customized cost analysis showing the employee’s additional benefits and the cost savings to you the employer.
The employee makes a pre-tax premium payment to the limited medical health plan each paycheck. (Just like he/she can for HSAs, HRAs, 401Ks, Pensions, Health Insurance Premiums etc…)
The employee’s taxable income is reduced because the premium is “pre-tax” and is set up on a Section 125. (lower taxable income also potentially reduces workman’s comp premiums.)
The FICA/Payroll Tax savings is realized by the employer and the employee because neither party is required to pay tax on pretax deductions that utilize the section 125 /Cafeteria Plan.
The employee’s participation in the wellness program generates a post-tax distribution/claim payment to the employee. This process produces the funds which create the “Flex Credits”.
We use the Flex Credits to purchase life insurance, accidental insurance, critical illness, disability and cancer and/or any of the allowable types of products which are deemed “ancillary” by the IRC.
The pre-tax deduction and post-tax distribution happen simultaneously so the employee never experiences a reduction in his/her NET take home paycheck. The employer experiences a reduction in FICA tax obligations on each payroll run beginning in month 1 of the program.
Opting into the Solid Solutions Program allows you the employee to take advantage of a suite of life enhancement products without the employer ever having to fund it, and no Out-of-Pocket costs to you the employee. Through our plan program, you will be eligible to obtain one or more of the following life enhancement products through the payroll tax savings known as “Flex Credits”. These Flex Credits can be used to purchase one or more of the following Life Enhancement Products listed below.
• Hospital Indemnity Policy – This will help negate most of your Out-of-Pocket deductibles. Most high deductible plans have a range from $3000 to $7500 per individual or family.
• Accident Policy – This will allow you to file a claim for an accident without having to tap into your health insurance policy, and without utilizing your health insurance deductibles.
• Cancer Policy – Our cancer policies can provide you and your family members with peace of mind by paying cash benefits to help cover expenses that aren’t covered by your major medical insurance.
• Critical Illness – In the unfortunate event of a heart attack, stroke or other critical events, this policy will pay out a pre-designated lump-sum to you and or your family.
• Disability – While protecting your financial security, this individual disability income insurance can replace a portion of lost income if you are unable to work due to sickness or injury.
• Guaranteed Issued Life Insurance – No employee can ever be turned down. In addition to providing life insurance, this policy will also pay a lump-sum amount in the unfortunate event of a terminal diagnosis. This product also provides an annuity or indexed product rider that will help build cash value for retirement.
Besides these wonderful benefits to your Employer, you the employee will “Win” by having access to 24/7 Board Certified Doctors with NO Copays, Registered Nurses with No Copays, Discounts on MRI’s, Labs and X-Ray’s, Behavioral Health Professionals with NO Copays, Bio-metric screenings all with No Copays and discounts on Vision, Dental, Massage Therapy and Chiropractic, along with many other services without using your Major Medical Deductibles.