Eric Kasen, Executive Vice President, Brown & Brown Insurance Services, waited nearly 30 years for health insurance in America to catch up with his vision of a private exchange for employees. "There's never been a true solution to lower the cost of health care from an employer's perspective that could actually work," he says. "It's just cost-shifting and marketing that's designed to increase profits for carriers."
That changed with the introduction of Individual Coverage Health Reimbursement Arrangements (ICHRAs) in 2020. The model lets employers contribute pre-tax funds toward the health insurance premiums their employees purchase on the individual market.
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