360 Advantage Program
Our program 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.
How does 360 Advantage TM deliver tax savings?
360 Advantage TM 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 premiums paid to the wellness plan after tax. 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.