Coming off the heels of the recent BenefitsPRO Broker Expo, it was no surprise that ICHRAs emerged as a hot topic amongst benefits advisors and vendors alike. Yet while many advisors are already embracing these group-like plans as a way to solve core challenges facing today's health plan market, some still struggle to articulate their value and overcome common misconceptions. During the breakout session, "Bend the Trend: Delivering Health Plan Cost Predictability and Control with ICHRA", attendees were asked about objections they hear when going out to market. Here's what they had to say and why these might not be "challenges" after all: 

1. Offering an ICHRA limits my ability to influence plan design.

While new and different can sometimes feel synonymous with a lack of control, it can actually be quite the opposite in reality. Given the newness of ICHRAs, most offerings are built on sophisticated, tech-forward platforms that deliver advisors the tools they need to be successful while eliminating inefficiencies. From a plan design perspective, gone are the days of time-consuming spreadsheets, manual calculations, and checking with your compliance team for approval. Instead, advisors can redirect their energy toward higher-value activities, influencing how plan selection fits into the larger business strategy. By identifying an advisor-friendly ICHRA provider, benefits advisors can do more than just remain relevant; they can positively impact everything from quoting and contribution strategies to supplemental coverage and employee engagement, thus delivering meaningful value by way of savings and support. 

2. ICHRAs are only for small companies (<50 FTEs).

When ICHRA passed in 2020, one of the core advantages was that it allowed companies of 50 employees or more to meet their ACA requirements by providing workers with tax-preferred funds to buy coverage on the individual market. And while ICHRAs have become incredibly popular amongst smaller companies where escalating health care costs can be particularly debilitating, the significant savings it can offer to larger companies makes it equally alluring. 

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