NRCA

WHAT YOU NEED TO KNOW ABOUT ICHRAs

The Individual Coverage Health Reimbursement Agreement, pronounced Ick-Ra, is a great way to offer health insurance benefits to your employees. 

  • ICHRA is a way for employers to incorporate “individual health insurance” into your employer-sponsored health plan. 
  • ICHRA offers employees a choice of the top local health insurance carriers in their areas. 
  • Each employee (rather than the employer) selects the plan that fits, not the employer. 
  • Employees can choose from major carriers, such as Blue Cross Blue Shield, Aetna, Cigna, United Healthcare, Humana, Bright Health, Ambetter, Oscar, Kaiser and more.

Employers save time and money with ICHRA 

  • ICHRA is less expensive than traditional health insurance. 
  • ICHRA saves 5% to 55% depending on the region of the U.S. 
  • There is no need for expensive benefits administration software. 
  • Employers simply decide how much to contribute to their employees' health insurance and when do they want the coverage to start. 
  • Renewals are easy. Employees can keep the plans they selected or shop for a new carrier and plan each year.
  • ICHRA is like the 401k of health insurance. You determine how much you want to contribute to benefits for your employees and that’s it.

  • Employers spend much less time managing their employee benefits programs.
  • Contact us to see a live demo at office@allthingsvault.com

1. Adopt

  • Employers with as few as two employees can use side-by-side comparisons for benefit plan selection. 
  • Upload employee census in industry-standard format. 
  • Establish the employer's contribution amount. 
  • Approve and sign one plan document electronically.

2. Enroll

  • Employees shop in one “store” using step-by-step instructions to find the right coverage. 
  • Employees have access to expert support. 
  • The eSignature protocol makes it easy to complete the online enrollment.

3. Manage

  • You receive one monthly consolidated bill for all employee policies. (Payments are directed to each carrier for you.) 
  • You receive real-time updates ensure premiums are paid on time and correctly. 
  • You can access a user-friendly dashboard to manage your plan; there is and no cumbersome reimbursement process. 
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