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ICHRA 102 Guide:
Insight Into the
Industries We Serve

Group health benefits are quickly becoming a thing of the past. See how switching to Individual Health Reimbursement Arrangements (ICHRAs) can help you and your team.

Overview

ICHRAs are just one way to show your employees they're more than just a number.

If you run a business—small or large—you may have heard of Individual Coverage Health Reimbursement Arrangements (ICHRAs). If you haven’t, let’s change that! Group health benefits are quickly becoming a thing of the past. Remodel Health is a leading ICHRA provider that aids employers in helping their employees choose the best health plan for their unique needs

ICHRAs For brokers & Agents.

If you’re a broker who’s looking to supercharge client offerings, ICHRAs are the way to do it.

Switching your clients to ICHRAs can boost your business in numerous ways, and so can partnering with Remodel Health. At Remodel Health, our technology drives the process, and our expert team ensures your clients receive the comprehensive support they deserve. Winning business is just as important as keeping it, and our cutting-edge solutions are designed to empower brokers to do both.

Brokers and agents who partner with Remodel Health get the best of both worlds with top-of-the-line technology and white-glove service. We are a partner, not a replacement. We augment your service so you can offer alternatives to groups burdened by the constant tug of rising rates. ICHRAs bring the calm most organizations desperately seek in the group market’s tumultuous waters.

We understand the importance of smart, cost-effective solutions. We’re experts in transitioning groups of 50–500 to ICHRAs, especially those facing significant rate hikes due to high-cost claims or an aging demographic. If you’re a broker who serves applicable large employers, we’d love to talk!

The benefits of a broker partnership with Remodel Health.

When you partner with Remodel Health, you’ll have access to a top-notch enrollment team for your clients and unlock exciting rewards and competitive compensation. Our company is dedicated to helping broker clients navigate their health benefits. A partnership with us includes expertise and support, streamlined solutions, enhanced client service, compliance assistance, customization, and personalization, technology and tools, and so much more. With Remodel Health at the helm, success is just around the corner. By connecting with us, you can:

Remodel Health’s innovative approach to health benefits has been recognized with a multitude of awards, including numerous years on the Inc. 5000’s list of America’s fast-growing private companies. We want brokers to rest assured that their partner is highly qualified and capable. Additionally, our broker partners are also eligible to earn prized incentives.

ICHRAs for Enterprise businesses.

How ICHRAs fit with enterprise organizations.

ICHRAs are not limited to small businesses. In fact, they were designed with Applicable Large Employers (ALEs) in mind. Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs) have existed just fine since 2017, but enterprise organizations were left out. That’s why ICHRAs showed up in 2020—to specifically help large employers. Between 2022 and 2023, the number of ALEs utilizing ICHRAs has more than doubled, with an increase of 144 percent. If your organization has over 50 employees and is recognized as an ALE, ICHRAs are worth looking into. This highly-attractive option for enterprise organizations can help your organization provide its employees with flexible and personalized health benefits, all while managing costs.

Why enterprise organizations should offer ICHRAs.

Enterprise organizations can reap a wide range of benefits when switching from group to individual health benefits. These benefits include the following:

Between 2022 and 2023, the number of ALEs utilizing ICHRAs has more than doubled, with an increase of 144%.

 

Ready to learn more about ICHRAs?

Our health benefits experts are here to help.

ICHRAs for small businesses.

The benefits of ICHRAs for small businesses.

As a small business owner, navigating the healthcare landscape can seem daunting. The traditional model of employer-sponsored health insurance is a common staple for many businesses. However, this structure has its drawbacks, particularly for small businesses that often struggle to bear the high costs. Thankfully, recent regulations such as ICHRAs have emerged as an excellent option. They offer flexibility, cost control, and personalized healthcare. Small businesses can enjoy a wide range of benefits when switching from group to individual health benefits. These benefits include the following:

  1. Flexibility and Control Over Costs – With ICHRAs, businesses have more control over their healthcare budget. You decide how much you want to contribute to your employees’ healthcare costs. This amount is adjustable based on changes to your financial situation.
  2.  Employee Choice – By providing ICHRAs, businesses empower their employees with the freedom to choose the health plan that best suits their personal needs. 
  3. Tax Efficiency – ICHRA contributions are tax-deductible for employers and received tax-free by employees, providing benefits for both employers and employees. 
  4. Streamlined Administration – By using an ICHRA administration platform, small businesses can manage the entire process online, reducing the need for complex paperwork and administrative overhead.

Embracing ICHRAs in your small business.

ICHRAs for Schools & Universities.

Why are schools and universities making the switch?

The importance of education facilities is upheld by the staff members who help run them, and one of the best ways to show your staff that you appreciate them is by offering an ICHRA. Schools, private colleges, and universities have experienced their fair share of financial struggles over the last decade. But more workers than ever are leaving their current jobs for new ones, citing their transition is due to a desire for better benefits. Employee retention is a direct link to the health and success of your institution. Therefore, staying uncompetitive in health benefits is simply not an option. If you want to keep your faculty and staff, keeping them happy is a step in the right direction.

With more schools and universities having permanently closed their doors, it’s no wonder that educational institutions are struggling to provide their faculty and staff with health benefits. Group plans increased by 283.7% in cost in the past 22 years, so it’s not surprising that more schools and universities are making the switch to ICHRAs.

Our premier ICHRA+ product
can help.

Remodel Health’s ICHRA+ product allows employers and employees to receive individual guidance and support from a highly-experienced team of health benefits professionals. Not only does our ICHRA+ solution allow employers to set a defined contribution amount for employees, but their employees also have access to noncommissioned benefits advisors who help them select, understand, and use the best health plan for them. As a leading ICHRA provider, Remodel Health provides nothing less than the best. With the ICHRA+ product, you can expect high-quality health insurance options, white-glove service, and employee retention.

ICHRAs for Churches & Ministries.

You’re not alone in wishing you had more of your budget for growing your ministry.

Since its inception in 2015, Remodel Health has helped countless churches and ministries find affordable and customizable health insurance solutions. Having health insurance tailored to your team’s unique needs allows you, as the leader, to allocate more funds toward the growth of your church or ministry. At Remodel Health, we are revolutionizing how health benefits are delivered to employees. Our expert team helps churches and ministries nationwide save thousands of dollars. We accomplish this by shifting church employees from a traditional group health insurance plan to customizable individualized plans.

The benefits of switching your church or ministry to ICHRAs.

Your church or ministry can save thousands of dollars by switching to ICHRAs. You can also provide your employees with individualized health insurance options. This can help bolster the benefits your employees receive from their health insurance. Your church or ministry can also decrease healthcare expenses and obtain financial relief. This can all be accomplished while maintaining high-quality health benefits. 

With ICHRAs, your employees will have the choice and freedom they deserve regarding their health benefits. Each of your employees can select an individual plan that will meet their unique needs. They will also receive access to a health benefits advisor, who can offer guidance.

ICHRAs mean more money for your church or ministry.

Money can’t solve every problem, but more money means more resources to put directly into your church or ministry. And more resources for your church ensures your ministry can keep growing. Compensation for church staff is one of the essential factors in recruiting and retaining top talent. Yet, according to the Bureau of Labor Statistics, 29.4 percent of total compensation for U.S. employees is spent on benefits, which is, unfortunately, not sustainable.

29.4% of total compensation for U.S. employees is spent on benefits, which is, unfortunately, not sustainable.

Ready to learn more about ICHRAs?

Our health benefits experts are here to help.

ICHRAs for Nonprofit Organizations.

We're dedicated to helping nonprofit organizations find affordable and customized health insurance solutions.

You might wonder, how does this work? Our expert team analyzes the specific healthcare needs of your nonprofit organizations to identify individual insurance plans that provide the necessary coverage at the lowest possible cost. Below, we’ll detail these plans, how they benefit nonprofits, and what your organization can expect when making the switch.

How nonprofit organizations benefit from ICHRAs.

If you’re the founder of a nonprofit seeking an affordable means of offering your staff the healthcare benefits they deserve, there’s a solution: ICHRAs. These health reimbursement arrangements (HRAs) are great if you’re looking for something other than group health insurance. ICHRAs allow nonprofits to reimburse employees tax-free, and setup and administration are easy and customizable. This means nonprofits can receive the same tax treatment as larger company group plans but with less hassle.

What to expect when making the switch.

Remodel Health can help your organization seamlessly transition to ICHRAs if you’ve got a costly group plan or are tired of the group plan grind. Our state-of-the-art software is designed to integrate seamlessly with ICHRAs, providing employers and employees with a simple dashboard that allows users to engage, connect, and assess their options. Remodel Health’s ICHRA setup process includes:

  1. Effortlessly Design Your ICHRA – Our professional team of experts navigates you through crafting a customized HRA tailored to your organization’s needs.
  2. We’ll Take Care of Your Team – Managing the health and happiness of your employees has never been easier. We’ll support them in selecting their health insurance and onboarding them onto our software platform.
  3. Embrace Your New Insurance Solution – Our software ensures transparency through detailed reporting. We bundle your employees’ plans into one package to make them easily accessible for your team.

Future Trends & Considerations for ICHRAs.

The evolving landscape of ICHRA regulations and legislation.

The healthcare landscape is constantly changing. As a newly integral part of this landscape, it only makes sense that ICHRA regulations and legislation will evolve. This special type of HRA requires a specific approach. As an employer, it is essential to understand this approach, the regulatory landscape, the benefits and challenges of ICHRAs, and how ICHRAs differ from traditional group plans. Keeping current with these changes will help your company remain at the forefront of its industry. Remodel Health can help you do this!

Potential challenges and opportunities for employers and employees.

Despite the countless benefits ICHRAs provide, these healthcare arrangements also pose some potential challenges. These potential challenges include a lack of employer awareness and understanding, uncertainty about how they will be regulated moving forward, and lack of adoption in rural geographic areas where the individual market is underdeveloped. Remodel Health stays up-to-date on industry trends and can help navigate the uncertainty and complexity. ICHRAs are fast-growing and the way of the future in the healthcare industry.

ICHRAs will continue to revolutionize healthcare benefits.

Just as every employer and employee is different, every company is different. No two companies have the same business needs, but all have a shared concern: the ever-increasing costs of group healthcare benefits. No matter the size or industry of your organization, enlisting professional help when navigating the ever-changing scene of healthcare benefits is beneficial. Over three million individuals are currently enrolled in an ICHRA. The Department of Labor has projected that in 2025 this number will reach 11 million. ICHRAs are the future of health benefits.

Implementing ICHRAs with remodel health.

Design your new ICHRA plan.

Choosing a health plan that satisfies your employees is important as a business owner. But with so many employees—each with their own set of unique needs—this task may be easier said than done. At least, it used to be until ICHRAs came around. 

An ICHRA is a special type of HRA that comes with a full spectrum of healthcare options, which makes finding the perfect fit for each team member much easier! When you partner with Remodel Health, you’ll be able to experience a seamless ICHRA setup process and enjoy the confidence that comes from supporting your team’s well-being.

How can Remodel Health help my organization implement ICHRAs?

Since 2020, Remodel Health has helped employers and their thousands of employees with the ICHRA integration process. This process is simple and efficient. Below, we’ve detailed the three key steps involved in implementing ICHRAs in your organization:

  1. Designing Your ICHRAs – Our intuitive software allows us to navigate you through crafting customized HRAs tailored to your employees’ unique needs. This can include eligible expenses, coverage tiers, and more.
  2. Caring For Your Team – Managing the health and happiness of your employees has never been easier. Our team supports your team in selecting their health insurance and onboarding to our software platform. Whenever you need support, you can count on our dedicated ICHRA specialists.
  3. Embracing Your New Insurance Solution – Our software ensures transparency through detailed reporting. We can efficiently bundle your employees’ plans into one package and group bill, ensuring both are easily accessible.

Working with Remodel Health.

When you partner with Remodel Health for the benefit of your organization, you can expect things to quickly take a turn for the better. Here’s what to expect:

  1. A professional review of your current benefits – Our highly-trained consultants will perform a complete analysis of the health benefits you’re currently providing if you’re offering any. Utilizing our advanced software, we will meticulously review the plan design and various details of your current benefits.
  2. A thorough examination of your current costs – From employer costs to individual employee costs and potential tax advantages, our high-end software helps us review your current spending and see where savings are possible.
  3. A rigorous exploration of your possible contributions – Our team will examine any extra contributions you are currently making and determine how you can add to your offering. We also offer a medical bill reimbursement feature that helps employers go above and beyond when possible.
  4. A detailed comparative analysis of your options – After analyzing your coverages, costs, and contributions with our software, our team will compare your options and help you select benefits that suit your organization’s needs. Remodel Health has more options available than any other ICHRA software.

Monitoring and evaluating ICHRAs’ success at your organization.

With help from Remodel Health’s state-of-the-art software and licensed experts, ICHRAs can be successfully implemented, monitored, and evaluated. Having our team monitor and evaluate your ICHRA’s progress year-round will help ensure its success across your organization. We can establish clear objectives and metrics, collect and track data, complete comprehensive cost analyses, and more.

Wondering if an ICHRA is a good fit for your organization?

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