“The ICHRA model could serve as the backbone of an unofficial universal health care system, characterized by flexibility, choice and inclusivity.”
Even in the infancy of this market, some are foreseeing how ICHRA, if it succeeds, could lead to systemic change down the line. They say the shift toward insurance competition and growing individualized coverage has the potential to change insurance in the country.
“I think we’re building a data foundation and an employee acceptability foundation toward a potential single-payer system,” said Zuo.
“The ICHRA model could serve as the backbone of an unofficial universal health care system, characterized by flexibility, choice and inclusivity,” Cass added. “By empowering individuals with the ability to choose their coverage and leveraging employer contributions, we can create a more resilient, responsive and equitable health care system for all Americans.”
“A lot of the companies in this current generation of ICHRA vendors haven’t started going to market until early 2023, so it’s a very opportune time for startups right now,” said Zuo. “The market, environment and economy has shown some signs of coming back alive. I think a lot of vectors are converging for ICHRA startups in 2024.
