HIT Consultant June 2, 2022
What You Should Know:
– Take Command, a tech-enabled service that offers HRA administration, has acquired innovative HRA intellectual property assets from Savvy, a San Francisco-based, VC-backed healthcare company founded in 2019. Financial terms of the deal were not disclosed.
– The acquisition signifies the market growth of Individual Coverage HRAs (ICHRAs, a new model of reimbursing employees for health insurance rather than buying it for them).
What’s an ICHRA?
The ICHRA (Individual Coverage Health Reimbursement Arrangement) is a new insurance model for company healthcare. Employers offer tax-free stipends that employees can use to purchase their own individual health insurance plans, leading to greater choice for employees and fixed costs for employers.
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