What EHP offers: 

Essentials Health Plan (EHP) offers a self-funded medical reimbursement plan that claims to save companies between $700 to $900 per employee and reduce workers' compensation costs by 18% to 30% annually. This plan is designed to be compliant with various IRS codes and ACA regulations, providing extensive health benefits at no additional cost to employees or employers.

How It Works:

Integrated Plan: EHP acts as a supplement to existing health insurance plans. If a company already has an ACA-compliant health plan, EHP can be added to provide additional benefits. For those without a plan, EHP offers a package that includes a Minimum Essential Coverage (MEC) plan. 
 

Tax Savings: The plan leverages pre-tax contributions under IRS section 125 cafeteria plan guidelines, reducing taxable income for both employees and employers, which translates into savings on FICA taxes and potential reductions in workers' compensation premiums. 
 

Comprehensive Coverage: EHP includes primary care, specialist visits, urgent care, dental, vision, accident, hospital indemnity, and universal life insurance. This comprehensive coverage aims to improve employee health and reduce absenteeism, ultimately benefiting the employer through increased productivity and reduced healthcare-related costs.
 

Implementation:

Enrollment Period: The plan requires setting an enrollment period for new and existing employees. Employees who already have a health plan can keep their current doctors, and those without coverage can use the MEC plan to access the PPO network. 

Compliance: EHP ensures compliance with ERISA, HIPAA, and ADA regulations, making it a reliable option for employers seeking to enhance their benefits package without incurring extra costs.