Group insurance plans are expensive and inflexible. Now there’s a better way.
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
Employers can offer levels of benefit per employee class
ICHRA allows employees to choose a health plan tailored to their specific needs
ICHRA allows employers to take control of the insurance spending, contributions, and risk
ICHRA plans can meet both mandates of Minimum Value and Affordability
ICHRA helps employees pay for their individual health insurance premiums tax-free, not impacting their taxable income
With a benefits administrator, ICHRA eliminates businesses working between insurance companies and employees
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
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.