These additional benefits plans that are available at zero net cost to companies and eligible employees fall under special pre-tax options.

 

These types of plans are often called a SIMRP or SIMERP, which stands for Self-Insured Medical (Expense) Reimbursement Program. Another type is called a WIMPER, which stands for Wellness Integrated Medical Plan Expense Reimbursement. However, no other programs like this include Innovia Behavioral Health support for full-time and part-time employees, contractors, and their immediate family members.

 

In the examples above, there are specific tax laws that allow for pre-tax dollars to be pulled and then reallocated for reimbursement to the employee, and the tax savings in between is what funds the benefits. Employees thus get additional benefits and still have the same net take-home pay.

 

Additional rewards for the company include net positive results from federal employment tax savings and a reduction in worker’s comp costs.

 

Contact us today to set up a consultation and learn more details about how we can help improve the lives of your employees and the bottom line of your company!