Individual Coverage Health Reimbursement Arrangement
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Group Health Insurance Plan.
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With expenses increasing every year, businesses need to get creative withhow they think about health care so employers can reduce these costs.
One cost-saving approach is establishing an individual coverage health reimbursement arrangement (ICHRA).
ICHRAs help control an employer’s spending while simultaneously promoting greater health literacy among employees.
At its core, an ICHRA is a flexible, tax-advantaged offering that gives employees more authority over their health care choices, and it’s how enrollees gain individual coverage and employers provide reimbursement for certain expenses.