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Free Benefits & Payroll Savings Hosted by ABC Insurance Trust
July 21, 2021 @ 8:00 am - 9:00 am
FreeSAVE ON PAYROLL TAXES AND PROVIDE EMPLOYEES WITH THE BENEFITS THEY NEED AT NO NET COST WITH A SIMERP PLAN THROUGH ABC.
WHAT IS SIMERP?
SIMERP is a Self-Funded Medical Expense Reimbursement Program; a tax qualified platform that utilizes IRS tax codes to lower your payroll burden while providing employees with a tax break to purchase additional benefits and a free* wellness plan.
A SIMERP PLAN ALLOWS:
- Employers to save money on payroll taxes with no up-front costs
- Employees to take home the same pay while adding benefits
- Current group health plan enrollees and waivers to participate
THE BENEFITS OF SIMERP:
- Employers receive ~$500-$700 in FICA net savings per enrolled employee, per year.
- Enrolled Employees gain a reserve that doesn’t reduce their take home pay.
- Enrolled employees & their dependents have access to a robust wellness plan that includes unlimited telemedicine for a $0 copayment.
HOW IT WORKS:
- Employer offers a voluntary wellness program under the SIMERP section 105 guidelines.
- Enrolled employees receive a credit on their payroll, based on the estimated value of the wellness program, their pay and deductions.
- This “credit” creates a reserve, which allows the employee to purchase/pay for qualifies benefits.
THE RESULT: Employees receive additional benefits at no cost while employers reduce their payroll burden and further improve their benefits program to attract and retain employees.
Employers can integrate this program into their benefits package at any time.
To learn more about ABC Insurance Trust visit their website at insurancetrust.abc.org.
Cancellation Policy: Registration is financially binding unless cancelled 1 week prior to the date of the class/event.
Read ABC East's Payment and Refund Policy
