How the Self-Insured Medical Reimbursement Program Works

What is a Self-Insured Medical Reimbursement Program (SIMRP)?

Myriad Capital partners with businesses to unlock significant tax savings through Self-Insured Medical Reimbursement Programs (SIMRP), a proven IRS-compliant strategy that saves companies approximately $600 per W-2 employee annually while enhancing their employee benefits package at no cost to employees.

Most business owners are unaware that they can leverage 40-year-old tax codes (IRC Sections 105(b), 106(a), 125, and 213(d)) through a turnkey solution that creates a true win-win: employees receive enhanced benefits including wellness programs, telehealth, and preventive care, while employers capture substantial FICA tax savings.

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The Numbers That Matter

Average Savings: $570-600 per employee, per year
Employee Cost: $0 (no reduction in take-home pay)
Participation Rate: 80-100% typical opt-in
Implementation Time: 30-45 daysWe create strategies that are tailored to your needs and goals.

Ideal Client Profile

Companies with 5+ W-2 employees (greater savings with larger workforces)
Businesses already offering major medical coverage
Industries with higher employee counts: healthcare, construction, professional services, manufacturing, architecture & engineering
Companies focused on employee retention and competitive benefits

Why This Matters

Every business owner struggles with the dual challenge of controlling costs while attracting and retaining talent. SIMRP addresses both simultaneously—freeing up capital for business growth while enhancing the benefits package that keeps employees engaged.

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