Capitalize on Tax Dollars Saved Through Your Employer-Sponsored Health Insurance - main content

Capitalize on Tax Dollars Saved Through Your Employer-Sponsored Health Insurance

Reduce Costs of Your Employer-Sponsored Healthcare Plans but Expand Health Benefits

You can make the most of your Employer Sponsored Insurance coverage (ESI) by not just optimizing the federal tax subsidies, but also capitalizing through smart healthcare initiatives, which have greater potential than standard private health insurance plans. With increasing medical expenses and health insurance premiums, employee and employer contributions towards these premiums are rising. These rising metrics have been compounding budgeting issues for employers.


Despite tax exemptions tied to health insurance coverage, Americans are struggling with the exorbitant healthcare costs. While certain federal government programs like the HSA (Health Savings Account) option with HDHP (High Deductible Health Plan) reduces the financial burden on taxpayers, both employers as well as employees, there is an urgent need for more revolutionary approaches to help save tax dollars while improving the quality of medical care.


How to Enhance Tax Savings and Employee Productivity

To lower costs, Envita Health™, a Managed Service Organization (MSO), offers pioneering clinician-designed plans, going beyond those provided by standard insurance companies. With Envita Health™ plans you have the option of enhancing your employees’ take-home pay as well as improving their and their family members’ health outcomes, while reducing your after-tax cost of health insurance. These built-in smart savings can be utilized with all types of plans, irrespective of whether they are self-funded, level-funded, or fully funded, as they have the potential of decreasing overall healthcare costs, enhancing refunds, and decreasing premiums. Envita’s BioMed plan can be overlaid onto your existing major medical plan, while the BioMed Super Wrap plan is designed to enhance tax savings by replacing your existing self or level funded plan with Envita’s health plan and combining it with the BioMed plan.

Here are the main ways in which Envita Health™ allows you to save tax-dollars while improving your employees’ health and increasing your resources for investing in other areas of organizational growth:

  1. Enhances Tax free Benefits: Envita Health™ utilizes the Section 125 cafeteria plan, through its BioMed plan, which is tailored for catering to employer groups of 25 employees and more. Cafeteria plans reduce the taxable income of employees, thereby lowering the amount of federal income tax, Social Security tax, and Medicare tax that both employees and employers have to pay​​​​. These plans allow employees to pay for health insurance premiums and other qualified medical expenses with pre-tax dollars. With Envita BioMed, employers may expect an annual average tax savings of $100,000 per 100 employees. It can be used along with other savings accounts like HRAs (Health Reimbursement Arrangements), HSAs (Health Savings Accounts), and FSAs (Flexible Spending Accounts), which reduce payroll taxes, enhancing savings opportunities for you. The Envita BioMed plan includes IRS audit protection, which can help cover unpaid FICA (Federal Insurance Contributions Act) and FUTA (Federal Unemployment Tax Act) taxes, as well as associated penalties, providing an additional layer of financial security and savings for employers​​. It also offers hospital indemnity plans and premiums paid for hospital indemnity plans are generally tax-deductible, providing direct savings on taxes.
  2. Clinician Designed and Managed to Eliminate Healthcare Waste: Though ESI and its tax benefits are lucrative for employers and employees, it often results in uneven coverage, especially for those in the low-income group or those working at smaller firms. However, with the meticulous planning by physicians in developing Envita Health™ plan designs, even small businesses have the opportunity to provide benefits, which are at par with those offered by large employers. Irrespective of the size of the employer group or the professional hierarchy of the employee, every plan member gets access to the latest personalized medicine, aimed at eliminating healthcare waste. Healthcare waste is caused by several factors, such as failure of care delivery, failure of care coordination, overtreatment or low-value care, and the Envita Health™ plans have been designed by physicians, trained in personalized medicine, to address these core causes of waste.
  3. First of its Kind Offering to Reduce Your Employees’ Out-of-Pocket Costs: According to a nationwide survey, Americans spent over $30 billion a year out of pocket on complementary health approaches, but Envita Health™ brings the incentive of eliminating these out-of-pocket expenses. Envita Health™ is a first of its kind healthcare plan providing coverage for standard conventional medicine, as well as advanced integrative care. With this offering you and your employees gain everything and lose nothing! With Envita Health™ your employees will still have access to conventional medicine as covered through standard insurance, but it brings the added advantage of coverage for integrative care, for which they had to pay out of their pockets earlier. Such comprehensive coverage is designed to reduce your overall healthcare costs, which in turn leaves you with extra dollars for investing in other areas of organizational growth.
  4. Innovative Plan Designed for Outcome Improvements and Cost Reductions: Envita Health™ team has developed proprietary billing codes, designed for smart intercepts in every member’s healthcare journey to help them improve outcomes while reducing overall healthcare costs. For example, if a plan member is recommended knee replacement surgery, then with Envita’s plan design they can be identified for a proactive second opinion. If they are found to be a suitable candidate for advanced regenerative therapies and they prefer to opt for it, instead of invasive surgeries, then it saves recovery time and overall healthcare costs for both employers as well as employees. Envita Health™ incorporates strategies like utilization management, disease management, and concierge services to ensure that employees receive appropriate and cost-effective care. These measures help in managing healthcare costs more efficiently​​.
  5. Next-Level Preventive Care to Address Cost Drivers: By focusing on preventive care, Envita Health™ aims to intercept high-cost conditions before they escalate. Envita’s preventive program includes specialized tests, such as one blood draw to screen for 52 different types of cancer. Studies show cancer, cardiovascular disease, and musculoskeletal conditions have peaked as the top 3 conditions driving healthcare costs, and Envita’s offerings are designed to not only address these cost drivers but fix other areas of concern, which may be leading to unnecessary expenses.

Envita Health™ also includes one on one health coaching to identify plan members who may have a higher risk of developing chronic and life-threatening diseases, which in turn drives up costs. By actively focusing on preventive care, employers can lower the incidence of chronic diseases and reduce overall healthcare expenditures. In case of high-cost claims, employers have the safety net of Envita’s stop-loss insurance, which protects employers from extremely high claims.

Call Us Today

By leveraging these strategies, Envita Health™ enables employers to provide comprehensive health benefits while optimizing tax savings and managing healthcare costs effectively. These strategies not only enhance the financial health of the business but also contribute to a healthier and more productive workforce. As the landscape of healthcare continues to evolve, partnering with Envita Health™ ensures that employers are well-equipped to navigate these changes while maximizing their tax savings. For any questions about your employer-sponsored healthcare plan or Envita’s eligibility criteria, feel free to call us at 877-214-8660. May God bless you on your healthcare journey!