HRA Options
ICHRA Health Options For Small Businesses
A Budget Friendly
Health Benefit
ICHRA is a group health benefit that companies can put in place for employees, tax free, to help reimburse individual healthcare expenses. This option can be stand alone or be offered as a separate benefit along with an existing group insurance plan. ICHRA also keeps employers’ penalty free from the employer mandate.

Savings
Control & Save On Cost
ICHRA gives you complete control over your health benefits budget and allows you to set up unique allowances for your employees. There are no limits to your budget, but there are unique rules for ALEs.

Benefits
Simple Benefits Plan
ICHRA helps you avoid certain drawbacks that normal group health plans have such as annual rate hikes, contribution, and participation requirements. This is a simple option to help give health benefits.

Custom
ICHRA Custom Plans
ICHRA gives the employees the freedom to pick their own health plans and coverage options. Depending on what amount you choose to reimburse, this can pay for monthly premiums etc.
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Joshua Baker
COMPANY
“Implementing an ICHRA plan into my company has been great for my employees but also became an asset in the hiring process, a lot of new inquiries come in now because of this one benefit that I offer. I highly recommend starting up an ICHRA plan and using BenaVest to help, they took care of the whole process.”
Do you want a cost-saving health benefit that covers you on the employee mandate?
Normal group insurance plans are too expensive, too overwhelming, or to generic to meet all your needs. ICHRA is a cost saving, simple health benefit, that is very customizable for the employer and for the employee. ICHRA plans are a great alternative to normal group health plans.
Do you want a cost-saving health benefit that covers you on the employee mandate?
Normal group insurance plans are too expensive, too overwhelming, or to generic to meet all your needs. ICHRA is a cost saving, simple health benefit, that is very customizable for the employer and for the employee. ICHRA plans are a great alternative to normal group health plans.
Frequently asked questions
Learn more about ICHRA and how it can help you.
What is the difference between ICHRA and normal group health plans?
The biggest difference is ICHRA allows the employee to choose there own health plans and regular group plans do not. ICHRA makes it so all employees can get coverages they actually need.
How does ICHRA work?
An individual coverage HRA is an employer-funded HRA that reimburses employees for medical premiums and expenses. Employees pay their individual insurance premiums and/or medical expenses (depending on how the employer designs the ICHRA) and then submits receipts for reimbursement from the employer. The employer establishes the reimbursement allowances per employee.
What’s the difference between a QSEHRA and an ICHRA?
While there are numerous differences, the primary contrast between QSEHRA and ICHRA is eligibility based on company size, limitations on contributions from employers, and design flexibility. For example, a QSEHRA can only be offered by businesses with less than 50 employees, while an ICHRA is available for businesses of any size. QSEHRAs have annual contribution limits, while ICHRAs have no limits. While both ICHRA and QSEHRA need to be offered to employees on the same terms, ICHRA allows for more design flexibility with 11 customizable class distinctions compared to QSEHRAs 4 classes.
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HRA Options is partnered with BenaVest to deliver all of the best HRA plans for you and your team! Please be sure to fill out the form below and a BenaVest agent will get with you to help you get the right plan for you!