Self-Insured Medical Reimbursement Plan

A Self-Insured Medical Reimbursement Plan (SIMRP) can offer significant financial benefits for both employers and employees—with no additional net cost to implement.

When properly structured and administered, a SIMRP can help a business reduce payroll tax expenses, creating meaningful annual savings for the employer. At the same time, participating employees may see increased take-home pay while gaining access to valuable healthcare resources and benefits that can reduce their everyday out-of-pocket medical expenses.

For small businesses, the combination of employer tax savings, enhanced employee compensation, and additional healthcare benefits can make a SIMRP a powerful addition to an existing benefits package.

With the potential to improve the bottom line while putting more value into the hands of employees, a properly designed SIMRP is an option every small business should at least evaluate.