Tag: ICHRA
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Why Did My Company’s Health Insurance Premium Increase in 2027?
A health insurance premium increase in 2027 is a growing concern for Georgia small businesses as employers prepare for higher group health insurance renewal costs. Rising medical expenses, prescription drug prices, increased healthcare utilization, workforce demographics, and administrative fees can all contribute to higher premiums. However, not every increase is driven by medical claims alone.…
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Georgia SHOP Health Insurance: When Is the Small Business Tax Credit Worth It?
A Guide for Georgia Small-Business Owners and Employees For a small Georgia business, the cost of providing health insurance can be one of the largest—and most difficult to predict—employee-benefit expenses. But some small employers may be overlooking a federal tax credit specifically designed to help offset the cost of providing health insurance. The Small Business…
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What Is ICHRA Group Health Insurance?
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…