Becker's Healthcare January 18, 2024
There are major disruption opportunities ahead in the employer group insurance market by way of individual exchange coverage, and some payers are hedging their bets on the market through a newer product: ICHRAs.
ICHRAs, or individual coverage health reimbursement arrangements, allow employers to offer a defined tax-advantaged contribution used to reimburse premiums for an individual health plan purchased by an employee on their state’s ACA exchange.
When first established in 2019, HHS estimated “that once employers fully adjust to the new rules, roughly 800,000 employers will offer ICHRAs to pay for insurance for more than 11 million employees and family members.”
Five key market updates:
1. The ACA marketplace is the fastest growing segment in the health insurance industry....
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