What is LHMP?
The Affordable Cares Act created a unique way of leveling the playing field when it comes to health care coverage and health wellness. It gives businesses significant tax deductions and ultimately creates a healthier and more productive work environment.
Health Management Plans or HMPs solve many challenges that companies face today with rising medical insurance costs and maintaining a healthy work environment. It helps reduce costs while increasing your employees take-home pay.
Save $500.00 per employee per year
Healthier work environment
FICA savings funds the plan
ZERO costs involved
Increased take-home pay
Dedicated to Health and Wellness
No need to be the guinea pig to your health insurance plan. The plan bolts onto your already existing health plan and reduces the costs of your plan by off loading some of the claims.
Workman's Compensation Reduction
In 15 states, the plan reduces your workman's compensation costs by reducing your employees’ gross wages.
With our amazing technology and support, we can have the plan implemented in two weeks.
Our team strictly focuses on the LHMP plans and are the best at implementing them without you having to do a lot of extra work.
Although our process is quick and painless, we have answers with a dedicated team of LHMP professional support specialists.
Benefits of LINQQS Cost Segregation
The Numbers Speak for Themselves
R&D Frequently Asked Questions
What type of plan is LHMP?
TThe Linqqs Health Management Plan is a self-funded, self-insured company owned indemnity plan with a limited schedule of benefits. This is similar to any section 125 Cafeteria style benefit plan.
Who is eligible?
Any business who has W2 employees and pays payroll taxes.
Why have I never heard about this type of this plan before?
You may have heard of them under another name such as Wellness or SIMERP. Health Management Plans have been around for over 30 years. They have been popularized in recent years due to the rising costs of Health Insurance and advances in technology. Also, most Health Insurance brokers are hesitant to offer them, because they lower Health Insurance premiums and negatively impact the commissions they receive.
How much does this cost?
This benefit is provided at a zero net cost to both the employer and employee. There is a small monthly admin fee that is paid by the employer out of the payroll tax savings they realize.
How is the LHMP compliant with IRS regulations?
Section 125 of the IRS code allows for employees to pay premiums for benefits provided by their employer with pre-tax dollars similar to a 401(k). The employee receives an insurance claim payment based on the completion of the prescribed.
What benefits do the employees receive?
Each employee will receive a net increase in pay of approximately $1500/year ($125/month). They will also receive several $0 copay benefits including primary care, prescriptions, preventative care & mental health.
What benefits does the employer receive?
By providing the LHMP plan, an employer will receive payroll tax savings of approximately $500.00 a year per employee. They may also experience other savings on benefits who’s cost is determined by how much they pay each employee (i.e., workers compensation).
How does the LHMP impact Health Insurance?
The impact the LHMP has on a company’s Health Insurance premiums vary. On average, it reduces a company’s usage by around 30-40%. This in turn allows a company to adjust the type of coverage they offer their employees such as changing the co-pays, co-insurance & deductibles. Overall, having the LHMP plan allows employers to save tons of money on one of their most expensive bills. It also provides them with much needed leverage when facing renewal rate increases each year.
Is there a size of company or certain revenue thresholds that need to be met?
Yes and No. Yes it is best that the company have a minimum employee count of 50. We can accomodate as low as 30, however it is financially more sound at 50 employees. No there is no revenue thresholds on the program. It is not revenue driven. It is employee driven.
Will Secure Executive go away or will the funds run out for it?
No and no. The funding comes from the FICA savings of the wellness plan, and the wellness plan was created through the Affordable Cares Act (A.C.A.). Congress passed the A.C.A. and the ability for the for the wellness plan to create the savings, so it would literally take an act of congress to stop it. They most likely will not stop it because it accomplishing what congress originally wanted, which was healthier employees so that obesity and diabetes hopefully will not bankrupt medicare in the future.