ICHRA – Individual Coverage Health Reimbursement Arrangement enables businesses of all sizes to offer employees tax-free money, to buy individual health insurance that better fits their unique needs. ICRHA fulfills ACA compliance and can reduce costs significantly
Group insurance plans lack flexibility to meet employee needs
Open enrollment periods are unproductive and costly
Benefits of ICHRA for Employers
Flexibility
Employers can offer levels of
benefit per employee class
Attraction/Retention
ICHRA allows employees to
choose a health plan
tailored to their specific needs
Controlled Costs & Risk
ICHRA allows employers to take
control of the insurance
spending, contributions, and risk
ACA Compliance
ICHRA plans can meet both
mandates of Minimum Value
and Affordability
Tax Efficiency
ICHRA helps employees pay for
their individual health insurance
premiums tax-free, not
impacting their taxable income
Administration
With a benefits administrator,
ICHRA eliminates businesses
working between insurance
companies and employees
Ultimate in Simplicity and Ease of Administration
ICHRA allows great latitude in plan design and administration. Employers decide eligibility and funding allowance. Employees choose a plan then attest to the coverage. Employers allow employees an annual opt out.. Simple
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Employees, have access to apps and dashboards that make it easy for them to file claims, view their plans, manage expenses and available funds, and upload receipts. Technology puts everything needed a click away.
MightyWELL works side by side with businesses of all sizes. Along with helping administer ICHRA plans for our clients, we also provide the most cost effective employee benefits.
Tailored to your unique needs and goals, we’re in the business of helping your business and your employees thrive.
MightyICHRA is innovating and leading the ICHRA solution since they became an option just a few years ago
We started off ahead of the curve, and today we’re continuing to bring forward-thinking solutions to our clients.
Have additional questions about ICHRA?
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