SIMERP - Is it too good to be true? Anybody heard of this?

I have a "Consultant" calling on my client trying to get them to participate in a "Self Insured Medical Expense Reimbursement Plan" (SIMERP). It basically allows employees to pay for a medical insurance premiums with "pre-tax" dollars and then get reimbursed that same amount with after tax dollars through an "Obama Care" benefit that allows for the reimbursement of medical expense or premiums through IRC 1.105. Therefore, the employee and company saves on payroll taxes...

My reading of IRC 1.105 makes me think they can only reimburse for medical expenses with after tax money, not so much for premiums. Has anybody come across this and know if this SIMERP thing is too good to be true?

I've heard of QSHERA plans where the employer can reimburse in a similar fashion and it's 100% legit. Basically the employee submits medical receipts to a third party administrator and the employer sends the reimbursement to the administrator who forwards the funds to the employee.

Used to be called medical reimbursement under a cafeteria plan. Also Flexible Spending Account.
Nothing new.

I think these consultants are trying to promote a plan that pays the employee back the entire cost of the premium or something close to it, not necessarily the "expenses" like a bill from the pharmacy under a regular flexible spending account. The consultants are saying..."The employee will end up with the same net amount" on his/her check, with a reduced FICA taxable basis which will save the employer taxes... I agree that "EXPENSES" should be paid back AFTER TAX, but to reimburse the employee for the pre-tax premiums with after tax money appears to be pretty sketchy.