The individual coverage health reimbursement arrangement (ICHRA) allows employers to reimburse employees tax-free for health plan premiums and qualified out-of-pocket expenses. Employees must be enrolled in an individual health insurance plan (on- or off-Exchange) or Medicare to be an eligible participant under the ICHRA. Flex is here to help you and your clients with the benefits administration of the plan, as well as the individual health sale.
Applicable large employers can satisfy the Employer Mandate requirements by offering an ICHRA.
However, an ICHRA may disqualify an individual for subsidy eligibility.
Flex's experienced Implementation Team will guide employers through the process of setting up the ICHRA and help them determine how the plan will work. The employer can choose:
Eligible employee classes
Effective date of the plan
Employees Purchase Individual Health Plans
The broker helps employees shop for and purchase their individual health plans. As a General Agency, Flex is available to provide support and assist the broker with the sale. For brokers who would prefer not to handle the individual sale directly, Flex has various partnership options available. Eligible plans include:
ACA regulated plans (on- or off-Exchange)
Insured student health plans
Medicare or Medicare Advantage plans
Employees File Claims with Flex
Once employees are enrolled in their health plans, they can get reimbursed for their premiums by filing a claim with Flex. We manage every aspect of the claims process, including: