Whether you’re ordering pizza at the office or having it at home with family and friends, everyone always has their favorite combination. Half sausage, mushrooms, and olives… Half Canadian bacon and pineapple. Having it our way is part of the reason we love it so much.
Your ICHRA plan is a lot like that pizza – you can combine any number of options with it to have it your way. That flexibility is one of the main benefits ICHRA offers employers and their employees – and it’s a benefit that is often overlooked. Here’s what you should know:
ICHRA combined with HSAs and FSAs increases pretax benefits for all. ICHRA plans were built to work with employee benefits and extend pretax benefits for both employees and employers. A Health Savings Account can be opened if a qualified plan is selected by the individual. Did you know that an ICHRA plan can be combined with Medical or Limited Flexible Spending Accounts to cover health, vision, dental, costs?
ICHRA comes with built-in reimbursement options. ICHRA’s defined contribution model allows employers to take control of their costs with tax-advantaged reimbursements. These reimbursements can include medical premiums, copays, RX, and deductible costs, depending on what the employer has defined. ICHRA provides maximum flexibility to employers when choosing what and how much will be reimbursed.
And there’s more… An ICHRA can even be setup to include additional benefits such as dependent care plans, vision and dental coverage, accidental and cancer plans, and pretax commuter plans.
Grab your slice of ICHRA… just the way you want it! Pick the ICHRA toppings that you want and grab your slice. Just like ordering your favorite pizza with the toppings you love, ICHRA plans allow employers to provide employee benefits their way. The multiple combinations and flexibility of ICHRA plans offer an excellent way for companies that never imagined they could provide benefits to do just that… in a way that controls costs AND helps retain employees!
Curious about your ICHRA options? Reach out and let’s discuss how you could customize your own ICHRA plan. Email us here today or call 952.666.7474.