What is an ICHRA? and how can this HRA help employees pay for health coverage?

Описание: An ICHRA — short for Individual Coverage Health Reimbursement Arrangement — is a type of employer-funded health benefit plan that allows an employer to reimburse employees for qualified medical expenses. An ICHRA allows employers to contribute money that employees can use to buy their own health insurance, instead of offering a traditional group health insurance plan.

Employer rules vary, including how much and employer can contribute and whether out-of-pocket medical expenses are covered.

When you're offered an ICHRA, you will qualify for a special enrollment period that will give you an opportunity to buy coverage, either through the Marketplace or directly from an insurance company, so that you can start taking advantage of that ICHRA benefit right away.

Louise Norris discusses which types of health insurance plan you can purchase with funds from an ICHRA – and which plans can’t be used with an ICHRA.

Learn more regarding ICHRA pros and cons for employees at https://www.healthinsurance.org/faqs/...

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