Brokers

Choosing an ICHRA Benefit Administrator Platform

Think of benefit administrator platforms as the interface of ICHRAs. They coordinate transactions, provide decision support to employees, serve as a place to enroll, and more. Because platforms are central to administration and plan selection, finding a partner with the level of support and features you need as a broker is an important part of the process. 

Keep in mind: the right platform can free you from administrative noise, create seamless client experiences, and help you continue to earn revenue.

Platform Types

Most ICHRA platforms fall into two categories: service-led and technology-led. Some platforms offer a balanced mix of both.

Service-Led Platforms

Platforms with a service-led model offer added guidance to employers and staff but may come with a higher fee as a result. Expect a higher touch, white-glove experience.

Technology-Led Platforms

Platforms that are more technology-led require employers and employees to take on a more active role, but may come with a lower cost. Expect a user-friendly, self-guided experience.

ICHRA Platform Considerations

As with any business decision, there are important things to consider when evaluating potential partners. The following questions can help you cover the right ground as you evaluate ICHRA platforms.

  • How do they partner with brokers?
  • How will the platform support clients during implementation and ongoing administration?
  • Will the platform provide visibility and reporting into the client and their employees?"
  • Can they provide case studies and/or references from existing clients?
  • What is the user experience like for employers and brokers?
  • What is the user experience like for employees?
  • How well do they help employees narrow down and select a plan?
  • Do they offer support for employee questions?
  • Are they open to adding new features if a need arises?
  • Do they provide live and online support for employees and HR teams?
  • How do they handle premium payment issues?
  • Do they have broker-dedicated account managers?
  • How well do they support employer and employee education for their platform?
  • Is their portal mobile-responsive?
  • What levels of data security do they employ? Is the platform SOC 2 (System and Organization Controls 2) certified, ensuring it meets standards for the confidentiality, security, and privacy of customers?
  • Do they meet HIPAA (Health Insurance Portability and Accountability Act) guidelines and comply with ACA (Affordable Care Act) reporting requirements?
  • For Applicable Large Employer (ALE) clients, what ACA compliance tracking do they provide?
  • "Do they integrate with your client's payroll and HRIS vendors?"
  • What makes them different from other platforms?
  • Does their system support mid-year hires with pro-rated reimbursement?
  • Do they allow the broker to retain AOR?
  • How would broker compensation be structured through a partnership with them going forward?
  • What are the fees for their services?

Explore Other ICHRA Topics for Brokers

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