The cost of offering health insurance has continued to rise year after year. Employers are often faced with a difficult balance: providing the most optimal coverage options for employees, while needing to contain costs. Benefits are also an important recruitment tool, so companies are often challenged with balancing coverage options against the bottom line.

Brokers can be an important resource for their clients in this area. New to the marketplace in 2020, individual coverage health reimbursement arrangements (ICHRAs) are an employer-funded, tax-advantaged health benefit used to reimburse employees for individual health insurance premiums and other qualified medical expenses. ICHRAs are revolutionizing the industry – so much so that I'd argue they're the future of health benefits.