Change brings with it curiosity, skepticism discomfort, but ultimately, still carries a reputation for being a positive force. The individual coverage health reimbursement arrangement known as ICHRA has opened an entirely new avenue for employers looking to offer healthcare to their teams. In spite of this novel approach, it has been met with reluctance from brokers and advisers for representing what they fear is too radical a departure from a group health plan.
But since its inception just over five years ago, ICHRA has proven to be an effective strategy to minimize the financial impact for business owners, while enabling them to cater to the unique needs of each employee. So, it’s not necessarily a matter of “if” but rather “how” this model can be a useful tool for brokers and advisers to share with their employer clients.
