Get more than just great healthcare coverage. Enjoy exclusive offers and discounts with Ambetter Perks.
How it Works & What to Expect
Once you cut through all the insurance jargon, ICHRAs are actually pretty simple. The steps below capture the typical process employees will follow when switching from group insurance to an ICHRA.
The Reason to Switch
Employees usually learn about switching to an ICHRA through an announcement from their employer. The announcement will typically explain why a change from group insurance is needed, what to expect, and why an ICHRA is beneficial. The two biggest benefits are more predictable costs and health plans that are personalized for each employee’s needs.
Learning About ICHRAs
Your company’s broker and/or benefit administrator will hold meetings or webinars to explain everything you need to know about ICHRAs and make sure you’re prepared for open enrollment. You’ll start with the basics, but eventually become a well-informed consumer.
Platform Onboarding
You’ll receive onboarding materials to get familiar with your “benefit administration platform” — an online hub where you’ll enter information and shop for your health plan.
Determing Your Needs
ICHRAs mean each employee can choose their own health insurance carrier and their own plan. Your benefits platform will ask you screener questions and offer filters to help you see plan options that best meet your unique healthcare and financial needs. You can filter by which doctors you want to be in-network, which prescriptions you want covered, and capture your preferences for premium and out-of-pocket costs.
Evaluating Options
You’ll see health plan results based on the answers you gave and the criteria you selected. Some platforms will even show you how these plans compare to your current insurance. You can also expand your results if you want to see all the options available to you rather than filtered results. As you shop, keep in mind what your employer will be contributing to the cost of your plans vs what you will be responsible for.
Selecting a Plan (With Support)
If you have questions, you can chat with licensed agents online or set up a video call. Agents might even be available to help you in person at your employer’s location. Once you’re ready, make your final selection and follow the steps to enroll. Some carriers might require follow-up paperwork or a phone call, where others have no additional steps.
Payment
Your employer will pay your monthly health plan premium and deduct any required payments from your paycheck. Deductions will depend on your plan cost and your employer’s contribution — you’re responsible for the difference between them.
What Types of Plans Are Available?
Plans designed for ICHRAs are available on a specific marketplace. The plans available on the individual marketplace feature all the big names in insurance you know, and some that are newer to you.
Many people find comfort in buying a plan from the same carrier they had on group insurance, but also be sure to consider new options that might give you access to the same quality of care for a lower cost.
Because health insurance can seem complicated, it’s common for people to wonder if they’ll be able to pick a good health plan. But think about other areas of your life where you already do something similar: buying car insurance, home or renter’s insurance — or even just buying complicated products like a phone or computer. People handle these decisions by doing a little research, using filters to narrow their options, and looking for recommendations. ICHRAs provide the same opportunity and give you control over an important and personal decision.
Explore Other ICHRA Topics for Employees
Talk With Our Team
Considering an ICHRA raises new questions. Our team is here to help.