A tipping point with individual coverage health reimbursement arrangements (ICHRAs) has been building in recent years, largely due to rising costs of healthcare coverage and changing legislative guidance, which made the introduction of ICHRAs very attractive. In an article in the August issue of PEO Insider, a publication of the National Association of Professional Employer Organizations, we discuss why IHCRAs might be a good option for employers, including thoughts on the following:
- Background on the formation of ICHRAs
- Advantages they offer
- What to consider before implementing an ICHRA
- How the financial liability differs from group health plans