Category: Employee Benefits

Super Simple ICHRA Explained What does ICHRA stand for? ICHRA stands for Individual Coverage Health Reimbursement Arrangement. It’s also commonly referred to as an ICHRA plan. What is an ICHRA? An ICHRA is a type of account-based healthcare plan that allows employers to reimburse employees for individual health insurance premiums and qualified medical expenses tax-free. …

ICHRA: So, what’s the big deal with affordability? When designing your ICHRA, it’s important to understand if your reimbursement amount is considered “affordable” or “unaffordable” to your employees. Here’s why: What does “affordability” mean? Why is it important? Smaller employers are not subject to this requirement, but will want to understand how affordability impacts employee…

ICHRA Rules ICHRA gives employers an incredible ability to design and customize a plan that’s tailor-made for their organization. We’ll cover some of the key ICHRA rules and ICHRA requirements in this section and dive-deeper on key topics (like ICHRA employee classes and ICHRA affordability) in later sections. A key principal to keep in mind…