ICHRAs are popular in 2024 and they continue to grow in popularity. An Individual Coverage HRA (ICHRA) empowers employees to select and purchase their health plans from the individual market, allowing them to receive tax-free reimbursement for premiums from their employer. ?? Discover more about ICHRAs in our Ultimate Guide: https://bit.ly/4eYx7xZ #ICHRA #EmployeeBenefits #GroupBenefits #AlternativePlan #OpenEnrollment
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"Navigating the wealth of information on Individual Coverage Health Reimbursement Arrangements (ICHRAs) can be overwhelming. That’s precisely why we’ve crafted the ICHRA Ultimate Guide - a comprehensive resource designed to demystify ICHRAs and empower employers and employees with a clear understanding. Our guide covers essential topics, including: ? What is an ICHRA? ? Benefits For Employees ? Benefits for Employers ? ICHRA Case Study ? Features ? Setup and Administration ? Classes and Compliance ? ICHRAs and Ameriflex Explore the guide today to make informed decisions and optimize your benefits program. Read more. https://bit.ly/452GM1q #ICHRA #EmployeeBenefits #WorkplaceWellBeing #Compliance #CaseStudy "
ICHRA: The Ultimate Guide - Ameriflex
https://myameriflex.com
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The 2024 HRA Council report on Individual Coverage Health Reimbursement Arrangements (ICHRAs) is out, and the numbers are impressive: ?? The number of US employees offered ICHRA as a health benefit has grown from 50,000 to 200,000 since 2020* ?? Applicable large employers (ALEs) were the fastest growing cohort with an 84% adoption rate* ICHRA is growing rapidly, making health benefits more flexible and accessible than ever. Discover what these trends mean for brokers and employers nationwide: https://hubs.la/Q02DWM4q0 #ICHRA #HealthReimbursement #EmployeeBenefits *HRA Council. (2024). 2024 HRA Council Data Report. Retrieved from https://hubs.la/Q02DWL1_0
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? Do you know about Individual Coverage Health Reimbursement Arrangements (ICHRA)? For employers, ICHRAs represent a novel framework within the domain of employee benefits. ICHRAs offer businesses of all sizes the flexibility to provide pre-#tax health benefits that can be tailored to the unique needs of their employees. The reality is the cost #savings for both the employer and employee are often so material (commonly several hundred dollars or more per month in reduced premiums for an individual or family) that the decision to move to an #ICHRA should be very easy. Data shows that when it’s a fit, its worth considering... https://lnkd.in/ejUSH33i #healthcare #NARFA #employeebenefits #strategy #compliance #healthinsurance #benefitsadministration #finance #healthcarecosts #association #advocacy #HR #HumanResources #personalized
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Happy birthday to the ICHRA! Five years ago, the federal government published the final rules for the individual coverage HRA. Since then, the ICHRA has transformed the way organizations offer health benefits to their employees. Learn more about the ICHRA and how it can help your organization offer an affordable and flexible benefit: https://lnkd.in/gk_uXfg4 #ICHRA #healthinsurance #employeebenefits
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According to HRA Council, which W3LL is a proud member of, Individual Coverage Health Reimbursement Arrangement (ICHRA) adoption has grown nearly 30% since 2023, especially among the employers with 50 or more employees. ?? 83% of employers are using #ICHRA to offer health benefits to employees for the FIRST TIME since they could not afford until ICHRA or Qualifying Small Employer HRA. ?? ?? ?? 17% of employers switched from traditional group coverage. 25% of employees choose Silver plans, 34% choose Bronze and 35% choose Gold. Top metros for ICHRA adoption are New York City, Atlanta, Los Angeles, San Francisco Bay Area,Twin Cities, Minnesota #ICHRA #W3LL https://lnkd.in/ewrR7agB
ICHRA growth up nearly 30% since 2023
beckerspayer.com
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Join our Greenville team as we discuss the Ins and Outs of ICHRA. An ICHRA (Individual Coverage Health Reimbursement Arrangement), which is one of the newer group health plan strategies, came onto the market?a few years ago and has given employers a new way to offer an employee benefits program, while potentially supporting cost containment initiatives.? Join our Greenville team on Wednesday, August 14th as we discuss:? ?What is an ICHRA? ?When/why an ICRHA could make sense for an employer group? ?Benefits of an ICHRA plan for Employers vs. Employees ?How an employer can stay compliant while offering an ICRHA? We will also discuss new benefit administrative systems in the market that can support an ICHRA for organizations of all sizes and budgets. Click the link in the comments to register!
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?? Debunking ICHRA Myths! ?? Think an Individual Coverage Health Reimbursement Arrangement (ICHRA) is too complex or not worth the effort? Think again! ?? Myth: ICHRA is only for large companies. Fact: ICHRA can benefit businesses of all sizes! Whether you’re a small business or a large organization, ICHRA offers flexibility and cost control for providing employee health benefits. Ready to explore how ICHRA can work for you? Let’s connect and clear up any misconceptions! https://bit.ly/3Zc8Sp9 #ICHRA #HealthBenefits #HRMyths #EmployeeWellness #BusinessGrowth
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Keep an eye on this trend: Per HRA Council Individual Coverage Health Reimbursement Arrangements #ICHRAs are booming. Employers are funding employees to but an individual (non-group) plan on a marketplace. ==> https://drugch.nl/4f4c5y5 FYI: Latest @KFF survey found that 4% of employers use ICHRAs, and 9% expect to offer in the next 2 years.
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An ICHRA (pronounced ick-ruh) enables employees to choose the health plan that works best for them and their budget.?Often employers are stressed and tasked with offering benefits that attract and retain employees but can miss the mark, because of the varying generations that they employ. Offering an ICHRA can not only eliminate this challenge, but also eliminate risk on the health plan and help finance budget appropriately. If you want to find out more and if this approach would work for your business we'd be happy to help! #healthcare #employeebenefits #ICHRA
How to Control your Health Care Spend with an ICHRA: Webinar Recap
https://www.oswaldcompanies.com
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If Gen Z wasn't already making you feel confused with Rizz, FAM and Simp, here's some alphabet soup to chew on... ICHRA "ick-rah," similar to "icky" with "rah" at the end ?? GCHRA: ɡ?k.r? "gick-rah" Gecko what? ?? QSHRA: "Q-sara" Like Q-tip but with Sara the girls name. ?? All of the above are forms of Health Reimbursement Arrangements. Individual coverage HRA. Group coverage HRA. Qualified small-employer HRA. Health reimbursement arrangements are a way to set aside funds for employee's health benefits. They can be a cost effective way to enhance your benefit offerings, control costs or empower employees to make the best decisions for themselves or their families. Each type of HRA has it's own set of rules and regulations. And each type has it's own pros and cons. Interested in exploring what an HRA could do for you and your employees? Send us a message, we'd love to chat.
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