Group Benefits Without The Hassle
New Innovative Options, No One Else Is Talking About!
Give Employees Cash to Purchase Their Own Insurance
And Still Get The Tax-Fee Tax Benefits of Group Insurance Premiums
New Laws Make It Possible to
Give Employees Tax Free Money Instead of
Administering A Health Insurance Plan For Them
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Any Size Employer
Money instead of complicated health insurance plans. It’s that easy. Whether you have one employee or 500, now you can simplify benefit administration. Never deal with another stressful open enrollment. Don’t worry about delivering more bad news when health benefit rates go up double digits… again!. Now, the employee chooses what they want from the individual market. Health insurance… reimbursed!
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Tax Free
With the right broker who can structure your cash stipend plan the right way, you can still harness the tax savings for both you and your employees. Employees will have the benefit of a pre-tax deduction from their paycheck that goes right to the plan they choose with no hassle on your end. The employee is their own benefit bbenefit of a pre-tax deductionoss with the help of our brokers who guide them through the marketplace.
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ACA Compliant
The ACA requires a lot of reporting and can come with a lot of penalties for non-compliance. Our brokers will ensure your stipend instead of health insurance plan is structed correctly so the ACA is satisfied. Reporting is taken care of by us and there is never a penalty for affordability. Oh, and with a health insurance reimbursement plan, you never have to spend time on COBRA compliance either.
A Revolutionary Way to Offer Employee Health Benefits
As an employer, you can now pay a stipend instead of traditional health insurance to give employees more choice and freedom.
After 30 years in the employee benefits industry, we've seen a lot of changes. But no innovation has had the potential to truly revolutionize health insurance for employers and employees like the Individual Coverage Health Reimbursement Arrangement (ICHRA).
An ICHRA allows you to reimburse employees tax-free to pay for individual health insurance plans. This innovative approach relieves you of the headaches of group plan administration while empowering employees to find coverage that fits their needs.
We can show you how to use a reimbursement model that is much simpler than traditional group benefits.
Key Benefits for Employers
It is genius! Pay employees to find and fund their own health insurance plan! Because you can reimburse health insurance costs with an employee stipend direct from the employee’s paycheck, an ICHRA comes with several bottom-line benefits:
Relief from Administrative Burdens
No more managing complex group policies, renewals, compliance issues, and premium hikes year to year. Offload it all through an ICHRA.
Tax Advantages
Contributions towards employees' individual plans are free from payroll taxes, unlike group premiums. ICHRAs provide the same pre-tax advantages more simply.
Control and Flexibility
You determine the reimbursement allowance amounts and can adjust annually to keep pace with premium hikes. Employees also gain more control over their coverage choices. No more complaints about how their employer’s plan is not what they want or need.
Affordability Testing Exemption
You avoid penalties as long as the allowance meets "Minimum Value" standards for Bronze-level plans. This gives you peace of mind. The plan is completely ACA compliant.
Empower Employees with Freedom of Choice
Rather than forcing one-size-fits-all group coverage, an ICHRA allows you to give employees a set allowance to find their own plans. This makes covering spouses and families easier too. Employees can now choose any Affordable Care Act compliant individual insurance that meets their needs, with most or all of the premiums covered on a pre-tax basis. Your company can give employees a set amount of money to put toward their benefit and that cash is still tax-free while they choose their own plans. And we help them with that part so they aren’t left dealing with complicated plan choices on their own. We guide them through the marketplace and help to enroll their family.
See if This New Product Makes Sense for Your Organization
We have some of the first brokers in our industry to receive experience and expertise in ICHRAs. Our experts can guide you through all considerations in transitioning from traditional group health insurance:
Which employees are eligible?
Allowance amounts?
Tax implications?
Compliance issues?
Employee communication strategies?
And more… We have it all covered.
Contact us now to discuss whether an ICHRA could provide budget stability and free you from group health insurance administration headaches once and for all. This innovative approach represents the future of employee health benefits - let's get you ahead of the curve!