If you want to achieve any of the following goals for your organization, individual coverage HRAs may be the right move:

• Protecting the budget from rising insurance costs each year
• Empowering employees to choose the insurance that’s right for them
• Learning about alternatives after a big renewal
• Increasing employee satisfaction with their insurance benefits
• Helping employees with benefits
• Insuring remote, hybrid, and part-time workers
• Learning about tax-friendly benefits
• Relinquishing the risk of a group plan
• Offering health benefits for the first time
• Providing flexibility, simplicity, and customization
• Exploring options if you did not qualify for group coverage

Sharing even one of these goals in how you offer health benefits to your employees means you might benefit from talking to an HRA Council Member about ICHRA and QSEHRA.

Health Reimbursement Arrangements have been called the “401ks” of health insurance, since they are defined contribution benefits. You as the employer sets the budget for the benefit amount, and your employees choose the quality, ACA-compliant coverage best for themselves and their dependents.

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