Even if you offer multiple health insurance plans, trying to address the diverse needs of employees can seem impossible. Budgeting for unpredictable group rate renewal increases can be equally challenging. An innovative alternative like individual coverage health reimbursement arrangements (ICHRAs) could be the solution.
ICHRAs flip how employers offer health insurance. Instead of trying to accommodate all employees with a few plans, employers can offer ICHRAs to defined classes of employees. That provides more freedom and flexibility to employees while stabilizing costs for employers and allowing them to offer coverage to employees that otherwise wouldn't be feasible.
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