An ICHRA platform designed for brokers
Finally, an ICHRA decision support tool for brokers that helps you determine if an ICHRA is a good fit for your employer clients! With the ShopICHRA platform you can model and design an ICHRA plan in real time – enabling you and your group clients to find the right balance between budget and benefits.
Key features
- Create employer presentations fast
- Shop, compare and quote off-exchange ACA compliant health plans in select markets
- Model different reimbursement amounts by employee class
- Offer employees a choice of health insurance options, including carriers you aren’t yet contracted with
- Works with any ICHRA administrator. If you do not have a preferred administration partner we can help
What is an ICHRA ?
ICHRA stands for Individual Coverage Health Reimbursement Arrangement. An Individual Coverage HRA or ICHRA is an employer-sponsored benefit which allows employers to provide tax-free reimbursements to employees to pay for individual health insurance premiums and/or eligible healthcare expenses
Why offer ICHRA as an option to your employer groups?
- An ICHRA benefit plan may be a game changer for employers who want to provide benefits, have a remote or multiple location workforce, or who want more flexibility than what a traditional group health plan offers
- Employers of any size and any industry can offer an ICHRA benefit to their employees
- Employers can set the contributions at levels that best meet their budget needs – there is no minimum or maximum amount and they can be a fixed dollar amount or % of premium
- Employers can offer a traditional group health plan alongside an ICHRA and elect to provide different benefits to different classes of employees within the ICHRA plan
- Retain the goodwill of offering health benefits while shifting ownership of selecting healthcare plans/providers to employees
- Help shield employers from the annual renewal increases found in traditional employer-sponsored health insurance plans
Why employees like it
- Each employee can choose a health plan that fits their needs and budget
- Geographically dispersed workers can select healthcare providers and networks that work best in their market
- Consistent, set benefit dollars can be used for premiums and other allowable health expense reimbursements
- Full tax advantages of a qualified employer-sponsored group health plan
