Preventive Care Benefits
Preventive care health plans offer your employees and their families access to additional health and wellness benefits without reducing their net take-home pay, all subsidized via tax savings. These benefits include services such as virtual urgent care, virtual primary care, RX coverage, mental health counseling, and weight loss guidance. These services are all readily available with $0 copays and extend up to 7 total people in the family.
Employer
On average, employers see a net FICA tax savings of up to $1,119 per W2 employee per year. This is a tax saving, not a credit. The savings are realized each time you run payroll. For a company running bi-weekly payroll, the company would save ~$43 per employee each time payroll is run.
Employee
On average, employees will realize $250-$350 in tax savings per month. These savings are then repurposed to subsidize ACA compliant benefits as displayed below.
Benefits for the Employee and up to 6 dependents, including spouse
Additional Benefits for the Employee Enrolled
MEC (minimal essential coverage)
Employees receive $0-copay primary care (3 visits/year), $0-copay access to 3,500 medications, and urgent care visits and Quest lab testing as allowed by available tax-savings funds.
Hospital bill eraser
Reduces medical expenses with an average 35% savings on hospital bills. Provides comprehensive, transparent coverage and relieves financial stress nationwide.
Whole Life insurance policy
Whole life coverage (up to $150,000 guaranteed issue) with a cash value growth on average of 4-7% after year two, based on available tax-savings funds.
Optimize Your Benefits Strategy with IronGate’s FICA Reduction Program
Frequently Asked Questions
The program applies a fixed pre-tax deduction to each participating employee’s paycheck. This lowers their taxable wages, which reduces the FICA tax liability for the employer. The FICA rate of 7.65% remains the same, but is now at a lesser amount due to the reduction in gross taxable income of the employees.
Yes, the program is fully compliant with IRS Sections §125, §104(a)(3), §105(b), 106(a), and 5213(d), as well as ERISA and ACA regulations such as 42 U.S. Code §300gg-4(1)(3)(c). All documentation and administration are handled by licensed third-party providers to ensure compliance.
Employees must earn at least $26,000 per year and average 30 hours or more per week por the Department of Labor. Any employees on Medicaid would not be eligible for this program.
It’s a quick and simple 3-step process: 1. Discovery & Eligibility Review – We assess your eligibility and potential savings. 2. Implementation & Payroll Setup – We handle the technical payroll setup process. 3. Employee Onboarding – Employees are enrolled through a guided, digital onboarding process. (Most companies are up and running within 2-3 weeks)
The program derives from the Affordable Care Act initially put in place January 1st, 2014, which combined aspects of the Section 125 pre-tax employee plan (put in place under ERISA act of 1974), improved efficiency in the healthcare industry (put in place under the HIPAA act of 1996), and the hyper focus of the U.S. government to provide employees proper benefits at a subsidized cost.
It doesn’t replace any existing health plans. Employees can keep their current coverage. The ReviveHealth Program simply adds additional wellness benefits and includes a Minimum Essential Coverage (MEC) plan to help meet ACA requirements. If the employee does not have any major medical coverage, this can act as a stand alone offering.
Get Your Custom Proposal
Contact us for a no-obligation proposal, where we’ll provide you with a detailed savings estimate tailored to your company’s specific needs. Let IronGate Business Advisors help you implement this innovative program that supports your employees and your business success.
