đź’ˇ ICHRA 101 Guide: A Breakdown of the Basics

Everything brokers, employers, and HR professionals need to know about providing ICHRAs.

Instilling ICHRAs in the Nonprofit Space

Remodel Health is dedicated to helping nonprofit organizations (NPOs) nationwide find customized health insurance solutions that are more affordable for their organization and staff. You might wonder, how does this work? Our expert team analyzes the specific healthcare needs of your NPO to identify individual insurance plans that provide the necessary coverage at the lowest possible cost. Below, we’ll detail these plans, how they benefit NPOs, and what your organization can expect when making the switch.

How NPOs Benefit From ICHRAs 

If you’re the founder of a nonprofit organization seeking an affordable means of offering your staff the healthcare benefits they deserve, you’re not alone. And thankfully, there’s a solution: Individual Coverage Health Reimbursement Arrangements (ICHRAs). These health reimbursement arrangements (HRAs) are great if you’re looking for something other than group health insurance. Not only do ICHRAs allow NPOs to reimburse employees tax-free, but setup and administration are both easy and customizable. This means nonprofits can now 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 healthcare options. Remodel Health’s seamless ICHRA setup process includes: 

Step 1: Effortlessly Design Your ICHRA

Our intuitive software navigates you through crafting a customized HRA tailored to your nonprofit’s needs. And if you need support, our dedicated ICHRA specialists are just a phone call away.

Step 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 platform.

Step 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.

Contact Our Professional Team Today

With over 1.5 million registered nonprofits nationwide, it’s time that NPOs have better-fitting health benefits. Say goodbye to expensive one-size-fits-all group plans and say hello to ICHRAs! When the budget is tight, finding health benefits for your NPO can be difficult, especially if all you’re considering is group health insurance. ICHRAs allow employers to provide untaxed dollars to their employees to spend on individual plans. And best of all, ICHRAs are efficient, affordable, and predictable!

Contact the professionals at Remodel Health to learn more about ICHRAs and what they can do for your nonprofit organization.