An ICHRA is an Individual Health Coverage Reimbursement Arrangement. The YourWay Frontier ICHRA is the latest account-based benefit plan from OneBridge Benefits, designed to help businesses control healthcare costs, provide brokers with a preferred client-based solution, and empower employees to choose and own tailor-fit coverage for their individual needs. Thanks to 2020 legislation, the YourWay Frontier ICHRA now allows employers to contribute pre-tax funds into an account, similar to an HRA, except now employees can use these funds to pay for their monthly health insurance premiums.
ICHRA, which stands for individual coverage health reimbursement arrangement, is the revolutionary alternative to group healthcare.
And it is a modern, IRS-approved health benefits plan allowing employers of any size to offer their employees more options in choosing the tailor-fit coverage right for them.
Under an ICHRA, there are no limits on how much an employer can reimburse employees, plus, unused funds can be used to cover out-of-pocket healthcare expenses in the future.
Taking advantage of this modern change, OneBridge Benefits designed our premier ICHRA plan—YourWay Frontier ICHRA—as we believe this is the way health insurance should be offered, with tax-advantaged savings and choice.
YourWay Frontier ICHRA provides employers with a simplified health benefit option by enabling employees to choose the health coverage that best fits their needs.
Ultimately, ICHRA’s allow for more control over health benefits, and streamlines the way health insurance is designed, offered, and administered.
Visit yourwaybenefits.com to learn more regarding ICHRA health plans—and do it YourWay.
