Commonly asked Questions
What are the qualifying criteria for a Business to be eligible for PHI?
- 10 or more Full time W2 employees
- Offer healthcare to their employees.
What is the Preventative Health Program Initiative (PHI)?
- The Preventative Health Initiative is an incentive program introduced during the Affordable Care Act which leverages tax credits to promote Physical and Mental Health. The idea being that “An ounce of prevention is worth a pound of cure”. The company can earn an average of $500 FICA tax reduction per employee, and employees who choose to participate earn an average of $1,500 – these credits are used to fund the wellness plan as well as cash value life insurance plans.
What benefits are included in PHI?
- Supplemental Whole Life Insurance with Cash Accumulation and Living Benefits Comprehensive wellness services including:
- Annual Health Assessment and Score
- 24/7/365 TeleHealth
- Remote Fitness Sessions
- Online Individual Therapy
- Virtual Couples Counseling
- Substance Abuse Counseling
- Remote Personal Wellness Coaching
- Consultations with Licensed Dietitians
- Online Stress Management
- Diabetes Counseling
- Virtual Veterinary Care
- Prescription Discount Program
When do the businesses receive their tax credits?
- Immediately following enrollment- the credits will be recognized on the next payroll.
Is there any upfront cost to my company?
- No there is not.
Do any other companies provide PHI?
- There are other wellness programs on the market- none of which offer the elements that we do.
What if the company already offers a particular benefit and we’re happy with the provider?
- There isn’t any reason they can’t have multiple service providers; this happens with telemedicine quite frequently. Since PHI doesn’t cost you anything, there is no problem.