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Analysis

Three months in to ICHRAs: What the data says

Since individual-coverage HRAs became available in January, how have employers made use of them?

HRA card Since the new accounts became available on January 1, employers have offered an average of $5,971 to single employees and $12,892 for families. (Photo: Shutterstock)

Good thing there’s not an allowance cap on individual coverage health reimbursement arrangements – as employers on average are offering more in these new accounts than the caps set on small employer health reimbursement arrangements, according to PeopleKeep’s report, “What we learned in the first 90 days of the individual coverage HRA.”

Since the new accounts became available on January 1, employers have offered an average of $5,971 ($743 per month) to single employees, and $12,892 ($1,074 per month) to employees with a family, according to the report. That is more than 1.8x the average allowance offering for single employees using the QSEHRA in 2019, and 2.6x the average allowance for employees with a family.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

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