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What Makes ICHRAs Different from Group Insurance
ICHRAs Make Costs Predictable
Despite collective buying power, group insurance often comes with high costs and unpredictable annual increases. With an ICHRA, there are plan options for every budget and more predictable costs from year to year (thanks to a larger risk pool and the ability to confidently budget your pre-tax contributions for employee coverage).
ICHRAs Make Plans Personal
If each employee’s circumstances and healthcare needs are unique to them, shouldn’t their coverage be as well? Group insurance means buying coverage from a single carrier and providing a few limited plan options for employees. With an ICHRA, employees can buy any plan from any carrier on the marketplace (including our competitors). This allows each employee to balance the coverage and plan features they want with the costs they’re able or willing to pay.
ICHRAs Make Coverage Possible
Just 56% of small businesses in the US offer health insurance. With more options that can be more affordable and require less hands-on administration, ICHRAs can help more employers provide insurance. And momentum is building. From 2023 to 2024, the number of businesses offering an ICHRA grew by nearly 30%.
Source: HRA Council - Growth Trends ICHRA & QSEHRA
Explore Other ICHRA Topics for Employers
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