Game changing benefit solution for employers of all sizes
What is ICHRA?
Individual Coverage Health Reimbursement Arrangement (ICHRA) is an IRS-approved tax savings plan that gives employers a great alternative when it comes to providing health benefits. The ICHRA allows employers to reimburse employees tax-free for qualified insurance premiums or insurance premiums & non-insured medical expenses, offering a more personalized, account-based health benefit. With the ICHRA, EMPLOYERS HAVE THE ABILITY TO CHOSE TO OFFER TO ALL EMPLOYEES, OR TO SPECIFIC CLASSES, WITH NO CONTRIBUTION CAPS, TO FIT ANY BUDGET.
Who is ICHRA for?
Individual Coverage HRA is available to businesses of any size looking to streamline benefit options & cut costs without reducing value when it comes to health benefits for their employees.
What are the benefits?
The Individual Coverage HRA is subject to the following guidelines (other limitations may apply):
Offering an ICHRA means employees can shop for personalized, individual insurance coverage that meets their needs.
The Individual Coverage HRA provides an opportunity to provide health care to employees while keeping costs predictable and easy to budget.
Necessary Plan Documents
The necessary plan documents required by the IRS, DOL, ERISA, and the ACA will be created and customized to each business.
Allows employers to choose the best method for making contributions to employees' accounts using file imports or recurring contribution schedules.