What are the benefits of an ICHRA for employers? For employees?

For Employers

• Predictable healthcare budgeting with fixed monthly allowances
• Flexibility to set different allowance amounts for different employee classes
• Scalable for any employer size—no participation requirements to meet
• Reduced administrative burden compared to managing group plan renewals and carrier negotiations
• Tax-deductible contributions

For Employees

• Freedom to choose a health plan that fits individual or family needs
• Portability—employees own their policy and can keep it if they change jobs
• Tax-free reimbursements
• Access to a broader range of coverage options through the marketplace, private exchanges, or directly from carriers

For a deeper look at how these benefits compare to a traditional group health plan, see: How does an ICHRA differ from a traditional group health plan?