Looking for operators who have set up a QSEHRA or ICHRA healthcare benefit
December 31, 2024
by a searcher from Harvard University - Harvard Business School in Cambridge, MA, USA
Hey all,
I'm considering offering a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) or Individual Coverage Health Reimbursement Arrangement (ICHRA) to replace an employer health insurance plan. I'd love to chat with operators who have done this.
Thanks so much!
from Massachusetts Institute of Technology in Colorado Springs, CO, USA
We used Take Command Health as the platform. We originally used PeopleKeep in 2021, but I didn't like it. Employees submit all their expenses into the platform, the platform vets the expenses as valid or not, and then you get a reimbursement report. I set it up so that I run the report with each payroll and then put the ICHRA reimbursement on the paycheck.
Benefits:
* Fixed, predictable cost. You set how much you offer employees.
* No need to shop around for insurance plans. This gets put on your employees.
* Each employee gets to choose the plan they want. Gold, silver, bronze, whatever. The main downside is that most plans available on the state or federal exchanges are HMOs, and some people don't like that.
The main reason we switched was to have one set of benefits across two different sites, and to offer a plan that is easier for certain employees to understand. Some people don't want the extra effort of shopping for their own plan. We also think a traditional group plan is better for attracting employees with families.
from University of Pennsylvania in Dallas, TX, USA