SIMRP Plans for Businesses
How SIMRP Plans Help Businesses
HEALTH & WELLNESS WITH NO EXTRA COST
A Self-Insured Medical Reimbursement Plan (SIMRP) works alongside qualifying existing health coverage to provide participating employees and eligible dependents with valuable health and wellness benefits—without added out-of-pocket expense.
Through a properly structured payroll and reimbursement process, participating employers may reduce payroll tax expenses while eligible employees may experience an increase in take-home pay. Benefits can include tele-health, Prescription Drug support, mental health services, and preventive wellness resources.
Explore SIMRP Plan Benefits
How a SIMRP Benefits Businesses
EMPLOYEE BENEFITS, TAKE-HOME PAY & PAYROLL TAX SAVINGS
A SIMRP can help qualifying businesses strengthen employee compensation while improving payroll tax efficiency. When properly structured and administered, eligible medical reimbursements may be delivered on a tax-advantaged basis, and reduced taxable wages may lower the employer’s FICA obligations.
At the same time, participating employees and eligible dependents receive access to no-copay tele-health, mental health support, Prescription Drug benefits, and preventive wellness resources. The Plan works alongside existing health coverage and may support employee recruitment, retention, morale, and financial well-being.
Explore Your Business’s Potential
Potential Employer Payroll Tax Savings
PAYROLL TAX SAVINGS
Participation in a properly structured SIMRP may reduce an employer’s payroll tax expense when eligible pre-tax deductions lower taxable wages. Actual results vary based on employee eligibility, participation, wages, payroll structure, and Plan administration.
Based on current Plan projections, qualifying employers may save approximately $500 to $590 per participating employee annually. A free payroll analysis provides estimates specific to each organization; savings are not guaranteed.
Request a Free Payroll AnalysisHow the SIMRP Is Funded
FUNDING EMPLOYEE BENEFITS WITH TAX SAVINGS
A SIMRP uses a coordinated payroll deduction and eligible medical reimbursement process. When properly structured and administered, the resulting payroll tax savings may help fund the Plan’s health and wellness benefits while supporting potential savings for employers and participating employees.
Watch the short video below for a plain-language overview of how the deduction and reimbursement process works. Actual results depend on Plan design, employee eligibility, participation, payroll structure, and applicable requirements.
Check Your Business’s Eligibility
Understanding SIMRP Laws and Tax Codes
Review the Internal Revenue Code provisions commonly associated with properly structured SIMRP Plans. This guide provides general educational information and is not a substitute for professional legal or tax advice.
View the SIMRP Tax-Code Guide
Does Your Business Qualify?
BUSINESS ELIGIBILITY AND PLAN FIT
A SIMRP may be appropriate for businesses with eligible W-2 employees who work full-time or meet the Plan’s full-time-equivalent requirements. Participating employees must also maintain qualifying existing health coverage.
The Plan must be properly structured and coordinated with payroll to support eligible deductions and medical reimbursements. Employee eligibility, participation, wages, existing coverage, and payroll structure can all affect projected results.
A free payroll analysis can help determine whether your business may qualify and provide an estimate of potential employer and employee savings.
Check Your Business’s EligibilityRequest a Free Business Payroll Analysis
REVIEW YOUR BUSINESS’S PROJECTED SAVINGS
Discover which employees may qualify and review projected savings for your business and workforce. The analysis is free and carries no obligation.
Complete the form below. A SIMRP Health & Wellness Advisor will contact you to arrange a brief introductory call and explain the information needed to prepare your analysis.
- Free, no-obligation analysis
- Reply within one business day
- No cost to qualifying organizations
Prefer to talk? Schedule a call or email info@simrphealth.com.