How Our Program Works

Biro Insurance Group focuses on implementing a wellness plan for your company and initiating a SIMRP (Self Insured Medical Reimbursement Program). A compliant wellness plan that results in the employer's FICA direct net profit, and includes three very important elements, the Wellness Plan Documents, Section 125 Cafeteria plan, and the SIMERP 105-11 documents.

Biro Insurance Group's automated service includes everything needed so that employees can start receiving benefits as soon as next pay period.

WHAT IS A SIMRP WITH A PREVENTATIVE CARE EMPHASIS?

A Self Insured Medical Reimbursement Program (SIMRP) is an employer sponsored workplace program that provides employees the opportunity to upgrade their benefit package with a certified Preventative Care Program while reducing both the employer’s and employee’s health care costs and expenditures.

SIMRP SUMMARY

Employees are looking for sources to fund financial emergencies as well as enhancing their retirements. The federal government has made available a program to do just that. No salary reduction for your employees and no cost to employers, all paid for through tax savings.

Biro Insurance Group's SIMRP model is based on existing IRS regulations and requirements. Available to companies of all sizes.

This is a guaranteed issue, easy way to add benefits to participating employees without effecting take-home pay.

HIGHLIGHTS

Group Rates !
No Change in Employee Take-Home Pay !
Company Saves on average over $590 per Employee, per Year !
Benefit Costs Never Increase Due to Claims or Age.
Can be paid through Payroll or Individual ACH.
Coverage is Guaranteed Renewable for Life.
Pays in addition to traditional health insurance and pays directly

to the consumer.

CLICK HERE to view The CPA Journal - Opportunities for Tax and Cost Savings

CLICK HERE to view David Legge, CPA, CRP, CFrA, CBM Due Diligence Work - Coons Automotive Companies

WHERE DOES THE MONEY COME FROM?

Participation in the Program results in tax savings that fund the employee’s after-tax allotment account.

The employee can then use the allotment to elect additional qualified supplemental insurance products.

Employer Benefits:

NO INVESTMENT
Immediate financial impact to the bottom line
Reduced taxable revenue - $590 average payroll tax savings, per participating employee per year
Increase employee retention, loyalty, and productivity
Reduces health insurance claims 1-2% on average or $1,400 per participant over a three year period
Operational, and fully automated within 30 days or less

Employee Benefits:

NO TAKE-HOME PAY REDUCTIONS
Opportunity to increase current benefits by an average of $1,800 per year
Robust Personal Health Dashboard identifies opportunities for a healthier lifestyle
24/7 Telehealth™ doctors, nurses, and health coaches, all copay-free
Mayo Clinic wellness programs
Addiction recovery and counseling, copay-free
Supplemental insurance benefits such as Accident, Critical Illness, Hospital Confinement, Short-Term Disability, and more