Tag: CostControl
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10 Employee Benefits For Small Businesses In 2025
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In 2025, small businesses will want to have mental health benefits, virtual health care benefits, flexible work arrangements, and inclusive leave policies. These benefits trends are happening across industries, so to keep your benefits competitive, your business needs to be aware of them. The modern era is changing what perks employees want and even expect…
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5 Things to Know About ICHRA, The 401(k) of Health Insurance
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At this moment, we are in the thick of an open enrollment season where sticker shock meets complexity and uncertainty. Where the reality of our less-than-perfect healthcare system – one built for a post-war workforce that has long-since retired – hits us hard as we decide how we will insure ourselves in 2026. Employer-sponsored plans…
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Why You Need a Strategic Benefits Package for Your Small Business
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You wear all the hats—sales, service, hiring, operations. But what about retention? The truth is, small business owners often lose top talent simply because they don’t offer the right benefits—until it’s too late. If you want to keep good employees and bring in new ones, you need more than just a paycheck. You need a good…
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How One Small Business Owner Cut Her Healthcare Costs by 20% with ICHRA
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From Renewal Shock to Relief When Sarah, a boutique marketing agency owner in Brookhaven with eight employees, opened her group health renewal notice, she was shocked: premiums were set to rise by 28% for the upcoming year. Like many small business owners, Sarah faced the classic dilemma — absorb the increase, shift costs to employees,…
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5 Trends Shaping the Benefits Landscape for Small & Mid-sized Businesses
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As the first half of 2025 comes to a close, the employer-sponsored benefits market faces complex challenges. Political shifts, market instability and stubborn inflation have all contributed to those challenges, making it ever more difficult for businesses to provide high-value benefits while managing costs. Small and midsize employers (those with fewer than 50 employees) have…
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Employee Benefits Trends for 2025: What Does the Future of Employee Benefits Look Like?
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The new year is an ideal time to evaluate how your business retains and engages employees. Emerging employee benefits trends offer insight into evolving priorities such as financial wellness, tailored benefit solutions, employee wellbeing, and support for remote and hybrid work models. These trending employee benefits may help shed light on workers’ needs and how…
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Most Employers are Giving Employees $ For ICHRA: source
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A small, growing number of employers are putting health insurance decisions entirely in the hands of their workers. Instead of offering traditional insurance, they’re giving workers money to buy their own coverage in what’s known as Individual Coverage Health Reimbursement Arrangements, or ICHRAs. Advocates say this approach provides small companies that couldn’t afford insurance a chance to offer…
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Using an ICHRA for the First Time: A Complete Guide for Small Businesses and Employees
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An Individual Coverage Health Reimbursement Arrangement (ICHRA) is a modern, flexible alternative to traditional group health insurance. It allows employers to reimburse employees tax-free for individual health insurance coverage and other qualifying medical expenses. Unlike group health insurance—where the employer chooses one plan for all—an ICHRA lets employees pick the plan that fits them best,…
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Level-Funded Group Health Insurance: A Comprehensive Guide for Small Businesses
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1. What is Level-Funded Group Health Insurance? Level-funded group health insurance is a hybrid between fully insured and self-funded health plans. This structure gives businesses predictable costs with potential refunds, making it attractive for cost-conscious small businesses. 2. How Level-Funded Plans Compare to Other Options Feature / Plan Type Level-Funded Group Health Insurance ICHRA Self-Funded…
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What Is ICHRA Group Health Insurance?
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An Individual Coverage Health Reimbursement Arrangement (ICHRA) is not an insurance policy itself, but an employer-funded reimbursement mechanism that was established in 2020. Employers set a fixed amount of pre-tax dollars for employees to use toward individual health insurance premiums or qualified medical expenses. Employees must purchase their coverage on the individual market—through state or…
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SIMPLE IRA Plans for Small Businesses
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When They Make the Most Sense — Financial, Employment, and Incorporation Conditions 1. What is a SIMPLE IRA? A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a retirement savings plan designed for small businesses with 100 or fewer employees. It allows both the employer and employees to contribute to individual retirement accounts, with…
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How ICHRA Benefits Small Businesses- Payroll, FICA and Income Tax Breakdown
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WHAT IS AN ICHRA? ICHRAs (Individual Coverage Health Reimbursement Arrangements) allow employers to reimburse employees tax-free for health insurance premiums and qualified medical expenses, instead of offering a traditional group health insurance plan. 🔍 Key Features: 🆚 ICHRA VS. STANDARD GROUP HEALTH INSURANCE Feature ICHRA Group Health Insurance Employer Cost Control Fixed monthly reimbursements Premium…
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Types of Group Healthcare Plans
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What Are the Differences Between Group Healthcare Plans Here’s a breakdown of the differences between Standard Group Health Care, Level-Funded Group Health Care, and ICHRA (Individual Coverage Health Reimbursement Arrangement) Group Health Care — all of which are ways employers can offer health benefits, but they differ significantly in structure, risk, flexibility, and administration. 1.…