360 Advantage™
FIGHT INFLATION with TAX SAVINGS
On average, the EMPLOYER realizes a $468 Tax Saving Per Employee with 360 Advantage™ that goes straight to the bottom line. The average EMPLOYEE enjoys a Tax Savings of $1,800.
The employee’s $1,800 can be added to their HSA, FSA, or used to purchase ancillary benefits.
360 Advantage™ is the equivalent of GIVING EVERY EMPLOYEE an $1,800 RAISE to FIGHT INFLATION.
Advantage Delivers
- EMPLOYEES Get a RAISE
- EMPLOYERS Increase PROFITABILITY
- Improved EMPLOYEE Health
- Improved Productivity
How does 360 Advantage™ deliver tax savings?
360 Advantage™ utilizes three documents, a Preventative Care Management Plan document, a Section 125 Plan document, and a SIMRP document, to create a fully IRS, ERISA, and ACA compliant is a Preventative Care Management Program.
Employees are reimbursed premiums by their employer for actively participating in a 213(d) compliant wellness program, generating tax savings for employees. The model has been meticulously reviewed by CPAs and ERISA attorneys to ensure compliance. Section 104(a)(3) states as long as the premium being reimbursed correlates with benefits that are Sec 213(d) compliant, the reimbursement is not taxable because they are employee contributions.
The Self-Insured Medical Reimbursement Plan SIMRP allows employee reimbursement of 213(d) compliant medical expenses, which includes preventative care. Having 213(d) compliant benefits is the differentiator between a compliant program and a non-compliant program. The IRS Chief Counsel Memo Number: 201622031 (5/27/2016) states: Under the SIMRP, a reimbursement of the premium for the 213(d) compliant preventative care management program is compliant with 105-11 guidelines. It does not have to be the actual dollar value of each use of the 213(d) compliant benefits or how much they have used during the pay period.
Smarter Care™ incrementally increases adherence to prescription drugs and compliance to Physician Prescribed Care Plans. The results are healthier employees and reduced healthcare costs. Digital Therapeutics are the key to reducing care costs while improving the health of your insured population, including your insureds with multiple chronic conditions.
We can put a price on these services because there are quantifiable savings. Examples are a 30% reduction in use of opioids for chronic pain, a 20% reduction in readmissions after cardiac procedures, or a 19% increase in adherence to physicians’ care plans by diabetics.
Improved Worker Productivity - While most employers understand that investing in human capital improves the company bottom line, many are only beginning to understand the impact health has on worker productivity. The indirect costs of poor health including absenteeism, disability, or reduced work output are estimated to be multiples higher than healthcare expenses.
Productivity losses related to personal and family health problems cost U.S. employers $1,685 per employee per year, or $225.8 billion annually according to the CDC. Indirect costs affect all employers, even those who avoid direct medical costs by not funding health insurance.
Absenteeism is when a worker is not at their place of work. Sometimes absenteeism is due to physical health challenges. However, it can also be attributed to mental health causes, ranging from stress and anxiety to depression and a host of other mental and behavioral health challenges, including substance abuse disorders.
Presenteeism occurs when a worker is reporting to work but is not working up to their full capability or capacity due to illness or mental health challenges. Physical and mental health issues prevent well intentioned employees from doing their best work. Common causes of presenteeism include diabetes, hypertension, obesity, and other chronic health conditions. The Harvard Business Review estimated that presenteeism costs the U.S. economy upwards of $350 billion annually in lost productivity.
Unlike any other workplace wellness program, 360 Advantage™ is fully funded with tax savings. The average company savings is $500 net, after the program is fully funded. The average employee savings is $1,800 net, after the program is fully funded.
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