The pandemic has forever changed the relationship between employees and employers. As we enter our new normal, people are expecting their place of work to be there for them and their family during difficult times and to support their health needs. And as companies look to lure back workers, a system of benefits that treats them with respect will be more important than ever.

That's why the work that the Biden Administration is doing to protect workplace health care from a controversial Trump-era regulation is so important. In one of his first acts as president, Joe Biden directed his agencies to review two particular health care rules: one that boosted junk health insurance plans on the individual market and another – a system called ICRHA – that would sever the traditional bonds of trust between an employer and its employees.

Individual Coverage Health Reimbursement Arrangements (ICHRAs) are an invention of the last administration that sought to weaken the quality of benefits that employees receive from their employers. While some brokers and insurers are hoping to make a quick buck out of this misguided system, the Biden administration has signaled that the window is closing, and that's a good thing for workers and any employer who cares about the people they hire.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.