What types of companies are you seeing choose ICHRA?
You know, we typically collaborate with two types of clients. One group is pretty new to the whole employee benefits scene. They haven't traditionally offered benefits apart from salary and wages, and they're keen to branch out. Sometimes, traditional group health insurance just isn't a fit for them - maybe because of their location, company size, contribution amounts, or even because they have employees in different states with different health system needs.
What type of pain points are they solving for?
Location, company size, contribution amounts, or employees spread out in multiple states can create complexities around group plans. Common pain points would include: high renewals, high risk, and participation concerns. That's where the Take Command platform and the Health Reimbursement Arrangement (HRA) swoop in to save the day. It lets these employers set aside a specific amount of cash to help their employees pick the health insurance coverage that's just right for them and their family. Pretty cool, huh?
What issues are specific to traditional health insurance?
Many clients we work with are old hands at offering health insurance benefits or employee benefits, but they're grappling with a problem. It could be that they're seeing their renewal costs skyrocket each year - think 8%, 10%, or even 15% increases. That's tough for any company to swallow, and they certainly don't want to pass these costs onto their employees. Plus, they feel like they're limiting their employees' choices by only offering one or two plan options. They're searching for a way to hop off this crazy merry-go-round.
What prompts an employer to consider ICHRA?
So, they're starting to think, "You know what? We want to be a good employer. We want to offer a benefit plan to our employees. But we also want to control how much money we give to those employees and let them choose the health insurance that's best for them and their family." And that, my friend, is where the ICHRA comes in.
How does ICHRA work?
Easily provide a benefits
solution for your employees.
Works with a variety of plans like
spouse & alternative plans.
Employers set friendly budgets
that work for their company.
We’re on a mission to create a consumer-centric healthcare system.
Take Command Health is not a bank. Banking services are provided by Blue Ridge Bank, N.A, Member FDIC. Deposits are FDIC-insured through Blue Ridge Bank, N.A., Member FDIC. The Take Command Health Visa Debit Card is issued by Blue Ridge Bank, N.A., Member FDIC, pursuant to a license from Visa USA Inc. Your funds are FDIC insured up to $250,000 through Blue Ridge Bank; Member FDIC.