Who can be covered under an ICHRA?
You can cover your spouse and dependents on the insurance plans you purchase with the help of your company’s ICHRA contribution. Furthermore, depending on your employer’s plan, you may be offered more money for each dependent added to your plan. Who counts as a dependent? Eligible dependents can include: Your child. There is no need […]
What’s the difference between ICHRA and group health insurance?
With a group plan, your employer chooses one plan for everyone. With an ICHRA, you choose the individual health plan that works best for you, and your employer gives you a monthly allowance to help pay for it.
What is an ICHRA and how does it work?
ICHRA stands for Individual Coverage Health Reimbursement Arrangement. It’s a type of employer-sponsored benefit that allows you to get reimbursed for health insurance premiums and other eligible medical expenses. It’s an alternative way for you to get full health insurance coverage instead of your employer providing a group plan. Here’s how it works: Your employer […]