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New Health Plan Solutions for Small Businesses
An individual coverage health reimbursement arrangement (ICHRA) is a new type of reimbursement model that offers substantial flexibility to employers of all sizes. ICHRA contributions are fully funded with tax-free contributions by the employer to reimburse their employees for eligible medical expenses.
What makes an ICHRA unique is that the money can also be used by employees to pay for individual health insurance premiums. It’s a way for employers to reimburse their employees for insurance rather than buying it for them.
An ICHRA offers:
Lower-cost options for the employer and employee.
Tax-deductible insurance options for employees. Plan choice and flexibility, no matter the group size.
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