The Tax Protection Plan™

Frequently Asked Questions

These are the questions we are asked the most. If you have other questions or would like a consulation, please get in touch with us.

Questions That Employers Ask

What prescriptions are covered?

37 of the most commonly prescribed medications are covered at no deductible and no copay to your employee. We anticipate more being added in the near future.

Do employees need to change providers or medical care?

No. Employees can continue to use the same providers and receive the same medical care they’re already receiving through their traditional medical insurance. The plans can provide additional options for better quality care and cost savings as identified by the physician of record, but employees are not required to take those options.

How do I implement this plan to my employees?

It’s simple! Once you send us a copy of the payroll census, we can begin to identify your potential savings per employee. Our team handles creating the plan, administering the plan, and answers employee education and questions.

Can the company enroll in the program at any time?

Certainly! However, it's important to note that for every month you postpone your participation, you'll end up paying more in payroll taxes than necessary, resulting in your employees missing out on valuable FICA savings as well as important benefits.

What happens if there are legislative changes or future determinations by ruling changes?

We understand that legislation can be complex and subject to change. However, we want to assure you that our program is closely monitored by ERISA attorneys and CPA partners who are always keeping an eye on any potential changes in the law. If any changes do occur, we will make sure to promptly notify all participants. It's important to note that offering these additional benefits is not a loophole, but rather a recognition by Congress of the importance of incentivizing employers to provide them. We are fully committed to complying with the original intent of the law as it is written.

Why did my employee’s paycheck go up?

Each pay period, a pre-tax deduction comes out of each employee’s paycheck to help fund the employer-sponsored Plan™. The typical taxes are then taken from the now reduced pre-tax pay, and employees receive a post-tax benefit. Increased paycheck amounts must be present for an employee to qualify for benefits.

Are The Plans compliant?

Yes. The Plans are qualified under the IRC.

How private do you keep my personal information?

Ensuring the utmost privacy of our customers is at the core of our values. Safeguarding your personal information is our unwavering commitment. We strictly adhere to HIPAA, HITECH, and GLBA regulations to guarantee your data remains secure and protected.

What are the potential Employer benefits?

• Significant annual tax savings per employee. • No net program cost. • Additional efficiencies with a properly structured health plan. • Extremely effective recruiting and retention tool. • Offer benefits competitors don’t offer. • No changes needed for existing plan, only additions. • Individual state department of insurance approval in many cases. • Realizing immediate payroll tax savings!

Questions That Employees Ask

Can I unenroll from the plan at any time?

Yes, provisions for leaving the program are available but may be subject to timing restrictions. Please let your HR representative know if you feel like the extra benefits and savings are no longer desired.

Who decides where the tax savings must be spent?

We collaborate with your employer to explore the range of available options under the "Wellness Reserve", and it is entirely up to you to decide which of these options you would like to invest in using the tax savings.

Does this program affect my Social Security?

The effect would probably be minimal if you are approaching retirement age as Social Security is calculated on a 35-year average. Remember the program affects the last dollars you earn which count far less towards your benefit.

What happens if employees choose not to participate?

The plans are voluntary (many times you are auto enrolled) and as such, an employee is not required to participate. If an employee chooses not to participate, they will not be able to join the plan until the next open enrollment.

My primary health plan provides preventative care; is this redundant coverage for preventive care?

While your primary plan may include some kinds of similar offerings, 100% of those coverages impact your claim usage and possibly your deductible and out-of-pocket limits. This plan can be used before you engage your major medical plan saving you out-of-pocket costs for any interaction.

Are my health responses kept private?

Your health responses are completely confidential and private. We prioritize your privacy and take all necessary steps to ensure that your personal information remains secure. We are fully compliant with HIPAA regulations, which means that your information is protected and will not be shared with anyone without your consent.

Are there a copays for the Plans virtual direct primary, emergency, dermatological, and mental health benefits?

No. The virtual direct primary, emergency, dermatological, and mental health benefits. All family members living in the home receive this benefit.

What is the pricing for these Plans™?

The cost of the Plans™ is covered by the tax savings they generate, meaning you won't have to pay anything extra out of your own pocket for premiums!

Can benefits be obtained on my spouse and dependents?

Absolutely, yes! You have the option to customize your benefits, or they can be automatically extended to cover your spouse and/or dependents.

Talk to an expert. We can help.

Have more questions or interested in a consultation? Reach out for more information.

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