Individual Contribution Health Reimbursement Account (ICHRA)
Unique Strategy in Healthcare
Providing access to a revolutionary approach to healthcare with Individual Contribution Health Reimbursement Account (ICHRA). Leveraging advanced technology and an agent-assisted experience, streamlining the onboarding process for groups. Comprehensive services include billing, product enhancements, integrated member engagement apps, premium savings, and much more.
Why Consider an ICHRA Strategy?
- Over the next five years, it is projected that 800,000 employers covering 11 million employees will adopt an ICHRA.
- There has been a 171% increase in U.S. workers offered an ICHRA in the last two years.
Recent Trends in Healthcare:
- Health insurance premiums have seen a significant increase over the years. According to the Kaiser Family Foundation, average premiums for employees (EE) and families have quadrupled since 2000.
- In the past decade, only 50% of employers with fewer than 50 employees have offered health insurance.
- Since 2010, there has been a 20% decline in offering health insurance for smaller employers.
- A 144% increase in Applicable Large Employers (ALE) offering an ICHRA since 2020.
Helping Clients With
Fixed Expenses for Employers
ICHRA provides a predictable and manageable expense structure compared to unsustainable renewals of traditional health insurance plans.
Increased Employee Choice
Employees can select the health plans that best fit their needs, ensuring higher satisfaction and better coverage.
Eliminate Participation Concerns
ICHRA covers all employees, removing the worry about meeting participation requirements.
Cost Efficiency
Individual plans are often less expensive than group plans, providing significant savings.
Through a combination of technology and agent assistance, delivering
a world-class customer experience.
Mobile App
Provides compliance, shopping, and enrollment features for a seamless user experience.
Call Center Enrollment
Offers agent-assisted enrollment to guide employees through the process.
Monthly Invoicing and Payments
Simplifies billing with a single process for invoicing and payments.
Product Enhancements
Includes options for dental, vision, life, and other insurance products.
Reporting and Compliance
Ensures all required documents and reports are managed to stay compliant with regulations.
Our Process
Submit a Dependent Level Census
Provide the necessary information about your employees.
Broker and Group Decision
Your broker and group decide to proceed with ICHRA.
TPA Handles the Rest
Manages everything from enrollment to backend reporting.
Providing a true win-win-win Solution
Broker Benefits
Brokers maintain control over their clients.
Employee Benefits
Employees get a variety of options to choose the best health plan for their needs.
Employer Benefits
Employers eliminate the stress of large, unsustainable renewals.
