ICHRAs: New Health Benefit Trend

On November eighth, a new trend in employer-provided health benefits is gaining traction. Instead of traditional group plans, some companies are now offering Individual Coverage Health Reimbursement Arrangements (ICHRAs), giving employees money to purchase their own individual health coverage. This approach, introduced during the Trump administration, is appealing to smaller companies and offers predictable costs. However, it shifts the burden of finding suitable insurance to employees, who may find the individual market complex and overwhelming. Despite this, ICHRAs are expected to grow due to rising health care costs, potential tax breaks, and the expiration of Affordable Care Act subsidies. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.