Easy Benefits for Busy Builders

Hi there,

Navigating employee health benefits can seem complex, but Individual Coverage Health Reimbursement Arrangements (ICHRAs) are surprisingly straightforward once you understand the process. 

1. It begins with selecting a benefits platform to administer the program and provide employee support. 
2. Next, you define your budget and the pre-tax contribution for each eligible employee class, giving you clear financial control.
3. Employees then gain the power to shop for health plans on the individual marketplace, choosing options that best fit their unique needs, just like buying car insurance or a new phone. 
4. Finally, they get reimbursed for their health coverage based on your defined contributions. 

While the transition involves consulting with your broker and educating employees, the initial support ensures a smooth shift. Employees quickly become savvy health plan shoppers, appreciating the control over this important personal decision.

Once you cut through all the insurance jargon, ICHRAs are actually pretty simple.