How an ICHRA can benefit

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By Carl Lishing, HealthMarkets Insurance Agency

One of the things I hear most from my small business friends is they regularly struggle to remain competitive while still providing health benefits. I decided to do a little digging and discovered a new product in the marketplace that has been designed to change that.

Employers can now offer a pre-tax benefit called an Individual Coverage Health Reimbursement Arrangement (ICHRA)*, instead of offering a group health plan. ICHRAs can have a dramatic effect on how employers of any size manage employee health benefits.

For some employers, sticking with the traditional group health insurance is the better option. For others, switching to an ICHRA can allow the employer to offer benefits while controlling costs and expanding employee choice. Employers may elect to replace all or part of their group health plan with a defined-contribution ICHRA. The idea is to allow employers to reimburse employees for medical expenses related to individual health and Medicare plans.

An ICHRA plan allows flexibility with how a company provides benefits to meet the needs of both the business and the different classes of employees. While doing this, they can better control their healthcare costs and end the cycle of annual renewals and ever-increasing rates.

While an ICHRA plan isn’t right for all businesses, it can be right for some. Give me a call to set up a no-pressure, no-obligation appointment to find out if switching to an ICHRA plan is right for your business.

Call licensed insurance agent Carl Lishing at 216-228-0765. HealthMarkets Insurance Agency is located at 16506 Detroit Avenue, in Lakewood. Office hours are Monday-Friday, 9:30 a.m.-5:30 p.m.; evenings and weekends by appointment. Find out more at

HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. HMIA007908 3-2020. *Source