An Individual Coverage Health Reimbursement Arrangement (ICHRA) offers employers an effective alternative to the traditional way of providing health insurance to employees.
ICHRAs allow an employer to offer employees reimbursements to purchase their own individual health insurance policies (rather than group policies).
We have found that ICHRAs, coupled with our existing SharedFunding solution (founded 2004), offer a powerful option for employers to consider.
The Benefits of ICHRA
Reduce your overall costs:
- It may be possible to reduce your overall healthcare costs using an ICHRA. BBG has learned the various ways to approach the ICHRA from a cost reduction standpoint. It is fairly easy for us to research this for you.
- While price drives most of the employer’s motivation, we know how to package choice. The employer can set a fixed contribution and the employee (with our help) can select the plan and insurance company that fits them best. We have the tools to streamline this for our clients.
Embrace a new strategy (choice, simplicity, less volatility):
- BBG has mastered how to combine the “off the shelf” policies and customize them for your people. It aligns with what we have been doing for almost two decades.
BBG Inc. is proud to be a founding member of the HRA Council.
The HRA Council is a non-profit, non-partisan advocacy organization comprised of HRA administrators and practitioners working together to create a vibrant HRA market by easing employers’ ability to offer HRAs and employees’ ability to use an HRA to enroll in coverage.
Their mission is to promote education and awareness around the new models of health reimbursement arrangements and build upon them to improve the stability and affordability of individual health coverage.
Learn more about the HRA Council.
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