{"id":4200,"date":"2024-05-04T14:50:06","date_gmt":"2024-05-04T14:50:06","guid":{"rendered":"https:\/\/platinumsavingsgroup.com\/webadmin\/?page_id=4200"},"modified":"2024-09-09T17:45:57","modified_gmt":"2024-09-09T17:45:57","slug":"health-management-program","status":"publish","type":"page","link":"https:\/\/platinumsavingsgroup.com\/webadmin\/services\/health-management-program\/","title":{"rendered":"Health Management Program"},"content":{"rendered":"\t\t
We offer employers an incredible plan saving them $650-800 per employee per year, raises employee net pay by 4-6%, has not net-cost to implement, and offers great benefits on top of their existing plan.<\/p><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Program Overview<\/b><\/p> How it Works<\/b><\/p> The Affordable Care Act\/ACA was established in 2012 and its primary purpose was making health insurance and preventative care available to all Americans. Our program is based on the ACA and Section 125, a law established in 1978 allowing employees to contribute pre-tax health insurance premiums.<\/span><\/p> Who qualifies?<\/b><\/span><\/p> All employees can qualify whether they’re full-time, part-time, seasonal, benefit-eligible, or non-benefit-eligible.\u00a0<\/span>\u00a0Qualification is based on wages and tax deductions. As long as an\u00a0<\/span>employee has a minimum predicted income of $17,500 per year and minimal tax deductions\u00a0<\/span>they will qualify for the program. Eligibility is determined by a proprietary tax analyzer. The tax\u00a0<\/span>analyzer ensures that all qualified employees will see an increase in take-home pay. An\u00a0<\/span>employee can not qualify for the program if they do not see an increase in take-home pay.<\/span><\/p> How does Enrollment Work?<\/b><\/p> \u00a0Enrollment works differently than typical health insurance: the administration\u00a0<\/span>burden is minimal due to the fact that enrollment takes place through an integration with\u00a0<\/span>payroll. This program works on an Auto-Enrollment Basis, meaning qualified employees will\u00a0<\/span>be automatically enrolled into one of the 6 plans based on their wages and tax deductions,\u00a0<\/span>with the option to opt-out. This is not something that the employer or employee chooses. The\u00a0<\/span>plan that an employee is placed in is selected by our Tax Analyzer.<\/span><\/p> How do Employees see an Increase in Take-Home Pay?<\/b><\/p> Employees will see two new line items added to their paychecks, a pre-tax premium and\u00a0<\/span>the claims payment. The combination of the two results in a net positive take-home pay for\u00a0<\/span>the employee. The claims payment is made on a pay period basis for participation in\u00a0<\/span>certain preventative care\/health management activities guided by a medical professional (i.e.\u00a0<\/span>using the benefits included in the plan). One of the ways to satisfy this claim is by receiving a\u00a0<\/span>Health Coaching Newsletter from our team of medical professionals via email or text\u00a0<\/span>message. These health coaching newsletters are automatically sent out every single pay period\u00a0<\/span>to employees.\u00a0<\/span><\/p> With this program, only one of two things can happen: an employee sees an increase to\u00a0<\/span>their take-home pay by participating or no change at all to their take-home pay by opting out.<\/span><\/p> How does the Employer see FICA Tax Savings?<\/b><\/p> The by-product of reducing the employee’s taxable income is that the Employer\u2019s FICA tax\u00a0<\/span>contribution is also reduced. The employer is still paying their ordinary 7.65% contribution, but\u00a0<\/span>because the employee’s taxable income has been reduced they are paying that same 7.65% on\u00a0<\/span>a lesser amount.<\/span><\/p> How is this paid for?<\/b><\/span><\/p> While there is no net cost to employers, there is still a cost. The cost of the\u00a0<\/span>benefits are paid for by the tax savings that the program generates for the\u00a0<\/span>employees resulting in a net increase in take-home pay. The cost of administration is\u00a0<\/span>paid for by the tax savings that the program generates for the employer. No money\u00a0<\/span>is taken out until the tax savings are realized.<\/span><\/p> How will the plan be rolled out?<\/b><\/p> There has an internal education process that is designed to educate the entire\u00a0<\/span>organization. Education is split into two sections: Employee & Employer. On the Employee side,\u00a0<\/span>our education team reaches out to the employees 6-8 times before the program goes live to\u00a0<\/span>educate them about the benefits, how to access them, and how their take-home pay will be\u00a0<\/span>increased. On the employer side, our education team assists with payroll setup as well as the\u00a0<\/span>finance setup, to ensure the program runs smoothly.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t Schedule Your Short 15 Minute Complimentary Consultation Now<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t