Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Insurance plan binder An ICHRA fills in the gaps for employers looking for a benefit that more closely resembles group health insurance but has the advantages of the reimbursement model. (Photo: Shutterstock)

One lesson of the pandemic is that employees want more control over the features and cost of their health insurance.

This is the principle behind the individual coverage health reimbursement arrangement, or ICHRA. Under this model, employees shop for their own individual insurance plan and are reimbursed by their employer. The government began working on the rule that would create ICHRA in 2017 and released the final rule in June 2019. Employers are quickly embracing the option, with a 219% increase in the number of organizations that signed up to offer an ICHRA in the second half of 2020 compared to the first half of the year, according to new data from PeopleKeep.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.