Insurance plan binder A(Photo: Shutterstock)

In the United States, it's long been commonplace for employers to offer a single health plan to all employees. Now, some companies are taking advantage of a new tool that offers more flexibility to workers. Individual Coverage Health Reimbursement Arrangements, or ICHRAs, offer employees a set budget for premiums or health care costs, allowing employees to pick the health care plan that works best for them.

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