Most employers have never heard of an ICHRA, Find out why brokers sell against it………….
The advantages of an ICHRA
- Eliminates risks for employers
- More flexibility in employees plan section
- Simple and flexible plan design options for employers
- Set your budget and forget about annual rate increases
- Employer decides what their cost will be, not the insurance company
- No participation requirements
- ACA compliant solution for any size group
- No restrictions on industry
- No lengthy underwriting process
- Federal mandated benefits
- Federal oversight of network adequacy
- Employee choice of major carriers
The reasons why status quo brokers sell against ICHRAs
- Low commissions
- Inability to churn business every year
- Brokers become less relevant
The reasons “Motherhood” plan sponsors give for not implementing an ICHRA
- Employees are too dumb to understand what’s best for them and would not know how to select a plan – “It’s too complicated.”
- Individual health insurance coverage is not as good as group health insurance
- Individual health insurance is more expensive than group insurance
- The only individual health policies in our area are HMOs (HMOs are essentially narrow network plans)
- None of the individual policies in our area will cover M.D. Anderson claims
What is an ICHRA?
Learn about individual coverage HRAs HERE
The $64,000 Question:
Why are new era brokers beating their brains out trying to help reluctant plan sponsors implement proven risk management strategies that reduce health care costs by 30-50% while improving benefits at the same time? Why are they subjecting themselves to self-flagellation in an ongoing, never ending struggle to keep everyone happy and joyful when they can sell ICHRAs requiring little or no service?
