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What do I need to setup an ICHRA?
- Determine employee eligibility classes
- Set a monthly reimbursement budget.
- Provide company legal information, including the legal business name, Employer Identification Number (EIN), and company contact information.
- Create formal plan documents, including a Master Plan Document, Summary Plan Description (SPD), Summary of Benefits and Coverage (SBC), and the required ICHRA Employee Notice.
- Please note that these documents must be in place before the benefit begins.
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