Employers are searching for solutions to manage soaring health insurance costs for their employee benefits. According to Aon data, businesses are paying an estimated 9.5% more for coverage this year. Nearly two-thirds of surveyed executives say an 8% to 10% increase is the threshold for making major changes to benefits.
Individual coverage health reimbursement arrangements (ICHRA) give brokers an alternative to help their clients manage insurance costs. In this model, employers pay employees a stipend through an HRA to select their own plan rather than requiring staff to pick from limited, employer-selected options.
