Looking for Feedback on ICHRA Programs
(This came to me anonymously from a fellow Chief People Officer - Steve)
Has anyone had experience implementing an ICHRA when it comes to your employee's benefits?
Just as a point of reference, an ICHRA is where an employer is simply making a promise to pay their employees a specific amount of money in the form of a reimbursement towards the cost of the employees individual health insurance. ICHRA is considered an alternative to Group Insurance, but an ICHRA is not an insurance policy.
I was asked to look into this and it's new to me. Would love to hear from anyone whose company has tried this approach. We want to see what this would look like for at least 100 employees/members.
Thanks for any input you can give.
-
We are a company of 1200 employees with approximately 950 benefit eligible employees and switched to an ICHRA plan 1/1/24 and now going through our second open enrollment. Happy to answer any questions you have.
-
I helped implement on for a small non profit. We had 20ish the first year and then almost 100 employees on it by year 3. Happy to chat and help as needed.
