As healthcare prices continue to increase, employers need to find ways to lower these costs. A Medical Expense Reimbursement Plan (MERP) is a strategic tool companies use to help employees manage their out-of-pocket healthcare costs. MERP products are flexible and tax-advantaged, well-suited to small and large businesses and beneficial to both parties. By understanding the […]

Understanding the ins and outs of healthcare can feel like a complex puzzle. Rising healthcare costs that traditional insurance can’t always cover raise some challenges for insurance producers and employers. However, there are ways of combating high healthcare costs. For insurance providers, understanding medical expense reimbursement plans (MERPs) is key to offering clients a way to […]

Many families worry whenever they have to deal with medical conditions and associated medical expenses. In 2023, the annual medical cost for a family of four in the U.S. was $31,065. To provide relief from medical expenses, employers offer various forms of healthcare plans or benefits for their employees. In addition to the traditional group health insurance, […]

Healthcare in the USA is becoming increasingly costly and complex for employers, employees and insurance companies. According to a 2023 report by KFF, the average annual premium for employer-sponsored family health coverage reached $23,968, marking a 7% increase from the previous year. As healthcare expenses continue rising, finding comprehensive cost-containment strategies has become increasingly crucial […]

According to the latest statistics from the American Medical Association, each person in the U.S. spends an average of $13,493 on healthcare in 2022. That’s a significant portion of many employees’ annual salaries. Businesses that cover part of these medical expenses help encourage employee loyalty while helping staff prioritize their well-being. As a side bonus, staff members […]

What you need to know about using a MERP strategy   WRITTEN BY ERIC CALCIANO, Managing Partner at New City Insurance Originally appeared on Issuu.com and featured in California Broker Magazine Looking for a robust tool for employers seeking to manage healthcare costs effectively? Take a look at Medical Expense Reimbursement Plans (MERPs). Not just […]

A medical expense reimbursement plan (MERP) can help employers reduce healthcare costs without sacrificing the level of care employees receive. Employers can also adjust the plans annually and maximize the budget as needed. However, a MERP comes with a set of rules. Noncompliance may affect the plan’s tax-advantaged status. Effectively communicating with employers and working […]