ICHRA: Plans for Small Business
Offer health benefits to your employees— tax-free.
ICHRA plans (pronounced “ICK-rah”) give employers the ability to reimburse employees pre-tax for health insurance premiums and medical expenses.
Learn More About ICHRA
Join us November 19th, from 12pm until 1:00pm to learn the ins and outs of ICHRA, how they work, and how you can get started. Get questions answered real-time. Or reach out with your questions and we’ll be happy to help. Email us
Key Benefits of ICHRA
- Employers get more cost control. Set up reimbursement amounts by group, type of employee, etc.
- Provides more flexibility to the employer who can choose the level of contribution and which class of employees qualify
- Provides choice to the employee: They no longer have to choose just one plan, and can shop for plans that fit their needs and budget best.
- Rates are individual market rates, meaning about 15-20% less than the typical group plan
- A robust Peak network
- Can be offered to full-time, seasonal, or part-time employees
- Contributions are pre-tax
Watch an ICHRA Primer Video
*Federal regulations dictate that businesses offering both ICHRA and traditional small group plans at the same time are subject to size requirements. Talk to your broker about these restrictions.
Ready to Get Started?
Talking to a broker is your best place to start. If you don’t have one, check our list of Peak Preferred Brokers—they’ve completed our ICHRA training.
Brew Your Own ICHRA
Brokers aren’t required, but we’d only recommend this path to the brave employer who has the time to dive in. Start by comparing the platforms that offer them.
- All reimbursements are tax-free
- To qualify, employee must fall within a designated class set by the employer and use reimbursement towards qualifying plans
- There is no minimum or maximum employer contribution limit
- Employers can divide employees into different classes and may offer different contribution amounts for each
- There is no minimum participation rate for ICHRA*
- Employers may offer other benefits like dental in addition to ICHRA
- Visit healthcare.gov/ichra
- Talk to your broker
- Reach out to us at 970-455-0381
Are You a Broker?
Join our network of experts offering the most up-to-date knowledge on plans from Southwest Health Alliance. Learn about the Peak Preferred program