New to an ICHRA? Learn the basics.
ICHRAs put more decision-making power in the hands of employees, letting them choose their own insurance and reimbursing for the costs, rather than the employer choosing the insurance plan.
If offered by your employer, an ICHRA gives you more flexibility to select the insurance plan that works best for you and your family.
An ICHRA can cover insurance premiums and out-of-pocket health care expenses, depending on the plan design.
Here's how it works:
- Employers design the plan and set reimbursement amounts.
- Employees purchase their own qualified individual medical plan.
- Employees submit claims and are reimbursed for their expenses.