As 2026 approaches, it’s clear that the health benefits landscape has evolved. Traditional one-size-fits-all group plans no longer meet the needs of today’s workforce. Defined contribution health benefits, particularly Individual Coverage Health Reimbursement Arrangements (ICHRAs), have been growing in popularity since 2021, driven by their ability to offer cost control and personalized coverage. However, while the advantages are undeniable, navigating ICHRAs can be complex.
Nexben makes defined contribution benefits easy for brokers. Our innovative solutions enable brokers to deliver strategic, value-driven results, therefore helping employers offer a broader range of benefits, and empowering employees with greater choice and flexibility, all without the typical administrative burdens.
In this blog post, we break down three ways Nexben makes defined contribution benefits easy and show how Nexben’s innovative approach solves each problem, making health benefits smarter, simpler, and more effective for everyone involved.
Problem #1: Lack of control and visibility with ICHRA administrators
With current ICHRA administrators, brokers lose control and visibility into their clients’ benefit programs. While these administrators offer benefits, enrollment, and administrative support, they operate within their own ecosystems. This situation forces brokers to give up their broker of record (BOR) status, allowing the administrator to manage the client and their employees. As a result, brokers are unable to access crucial information and data needed to support their clients effectively. While brokers may still earn some income, they essentially must hand over their client relationships to the administrator and hope for the best.
How Nexben makes defined contributions easy:
- Nexben values broker-client relationships and empowers brokers to serve their clients according to their preferences. Brokers can continue to work the way they want, retain their broker of record status, maintain client relationships, and deliver the level of service they desire.
- They have the flexibility to choose the marketplace and enrollment support, deciding how much involvement they wish to have. Brokers can collaborate with one of Nexben’s trusted partners or manage the process themselves in any format they prefer.
- Nexben offers comprehensive training, onboarding, and support for brokers, along with access to Partner Success teams to assist with client strategies.
- To enable brokers to support their employer clients fully, they are granted 24/7 access to real-time client account data and transactions. This means they have visibility into every payment and reconciliation and can proactively alert clients of any employee needs before they become an issue.
Problem #2: Limited ability for cross-selling with ICHRA programs
While ICHRA programs often offer employees access to a broader range of health plans, traditional ICHRA administrators do not seamlessly incorporate ancillary benefit options, which must then be administered separately. This increases the management burden on employers and brokers. It also limits brokers’ ability to provide their employer clients with comprehensive and strategic benefits solutions that address their employees’ unique needs. As a result, employees may be missing out on additional coverage that could improve not only their workplace satisfaction but also the overall quality of their lives.
How Nexben makes defined contributions easy:
- Nexben is pioneering a whole new way for brokers to offer ancillary benefits to their clients. With the new game-changing Multiple Benefits Solution, instead of selling individual ancillary products one person at a time, brokers can easily extend these benefits to their employer groups, helping them grow their businesses and create greater impact and satisfaction for everyone.
- With Nexben, employers can now offer their employees the opportunity to choose the individual coverage that best fits their unique needs, but it doesn’t end there. Employers also have the option to offer their employees an endless array of ancillary benefits. And best of all, the additional benefits can be paid for using the same payment technology used for individual health coverage. This new solution, offered exclusively by Nexben, allows employees to create the benefits packages that best serve them. For example, an employee may choose a bronze plan with a higher deductible and out-of-pocket maximum because they know they can use hospital indemnity or other health and wellness plans to get the coverage they need. This first-of-its-kind solution empowers benefits to serve as a powerful recruiting tool that also drives higher retention and employee satisfaction.
Problem #3: The belief that ICHRAs and defined-contribution health plans are overly complex is limiting brokers’ ability to broaden their offerings and grow
Defined contribution health benefits are often perceived as complicated. Brokers, specifically those in the individual market and Medicare space, are responsible for representing an overwhelming number of plans. When these brokers move to selling defined contribution plans without an ICHRA partner, they often end up focusing on selling products rather than delivering a strategic solution that benefits both their clients and their own businesses.
For brokers looking to diversify their business by expanding into employer group health benefits, the barrier to entry can feel surprisingly high, with steep learning curves and taxing administrative processes that make it difficult to get started.
How Nexben makes defined contributions easy:
- Nexben makes defined contribution benefits easy for brokers by eliminating the burden of representing an endless number of individual plans. Instead, brokers can take on a true advisor role, working with their clients to determine the best defined contribution strategy for their businesses and their employees’ needs. Nexben’s advanced tools for enrollment and ongoing client management empower brokers to do what they do best—provide their clients with strategic business solutions that best serve their business and employees.
- With Nexben, not only are brokers able to leverage one platform for multiple health plan carriers and ancillary options, but they are also able to choose their desired level of involvement when it comes to supporting their clients. Brokers can work with their employer clients to select a marketplace and guide employees through enrollment or engage with an enrollment partner. Brokers can retain Broker of Record or take a more hands-off approach, with Nexben making both options seamless and effective, and streamlined on one platform. Either way, brokers are always able to set their own advisory fee.
- In addition to making defined contribution benefits easy, Nexben makes it simple for brokers to break into the group health benefits space. Nexben supports brokers every step of the way, offering extensive training and resources to ensure they have the knowledge and tools to succeed. In addition, Nexben can connect brokers with enrollment and industry partners to get up and running quickly and confidently. Most importantly, brokers are able to leverage information resources for employers and employees to ensure a smooth experience.
Your Partner for Smarter, Simpler Health Benefits
Nexben makes defined contribution benefits easy by streamlining reimbursement, giving employees freedom of choice, expanding benefit options, and removing administrative burdens. With Nexben, brokers can provide more value, employers can offer competitive, personalized benefits, and employees can gain control over their coverage. It’s a smarter, simpler way to deliver employer-sponsored health benefits. Connect with Nexben today to transform your benefits strategy.