ICHRA Administration
The Individual Coverage Health Reimbursement Arrangement (ICHRA) is an alternative to offering a traditional group health plan to your employees. It’s a specific account-based health plan that allows employers to provide defined non-taxed reimbursements to employees for qualified medical expenses, including monthly premiums and out-of-pocket costs, like copayments and deductibles.
The Worksite Group has a turn-key ICHRA solution that mirrors the overall enrollment experience of a traditional group plan as closely as possible. A state of the art benefits administration system designed specifically for ICHRA, coupled with the licensed benefits counselors who guide employees through their options to create the optimal enrollment experience for any employer offering ICHRA. Our team is licensed in all 50 states, and appointed with 200+ individual health insurance carriers, which allows us to work with employers of all sizes in any geographical market.
- Employees must be enrolled in individual health insurance coverage to use the funds
- Employers of any size can offer an ICHRA
- ICHRA plans can be offered alongside a group health plan
- Creates plan choice for employees to pick their network and deductible.
- 171% growth from 2022-2023 (HRA Council)
- 141% growth by large employers from 2022-2023 (HRA Council)