ACA Filing Requirement for ICHRAs: IRS Form 1094 and IRS Form 1095 The Affordable Care Act (ACA) requires all companies that sponsored an Individual Coverage Health Reimbursement Arrangement (ICHRA) during…
Read More
Three ways ICHRAs can help control costs
John Kelly, Nexben CEO, recently wrote an article for BenefitsPRO. He breaks down how ICHRAs are radically changing the benefits space, especially when it comes to rising insurance costs. Read…
Read More
ICHRA Notice Relief
Employers offering an ICHRA are typically required to provide written notice to each participant at least 90 calendar days before the beginning of each plan year. Due to Covid-19 and during the national emergency the timeframe to provide the required notice has been adjusted. Under EBSA Disaster Relief Notice 2020-01, the ICHRA notice may be furnished as soon as administratively possible under the circumstances.
ICHRAs and Quotes: What you need to know
When most of us shop for something, there are a series of questions we ask ourselves: Is this a want or need? Do I ‘need’ this right now? Where do…
Read More
IRS Releases New Affordability Rate of 9.12% for 2023
The IRS has released a new benchmark rate of 9.12% to determine affordability of employer-sponsored health benefits (such as ICHRAs) offered in 2023. This is down from 9.61% for 2022…
Read More
The Current State of Healthcare Benefits
Recently, two surveys were published with great insights into the importance of health insurance benefits: “2022 Emerging Trends in Health Care Survey” from Willis Towers Watson, Spring 2022 “2022 Health…
Read More
Four Key Insights on Consumerism, Technology, and the Future of Insurance Brokers
Adapted from Nexben’s Technology Showcase at the 2022 BenefitsPRO Broker Expo in Austin, TX, May 23-25. Each year the nation’s top brokers head to the BenefitsPRO Broker Expo to network…
Read More
PCORI Filing Due to IRS by August 1, 2022
Sponsors of self-funded health benefit plans, including Individual Health Reimbursement Arrangements (ICHRAs), please be aware that the annual PCORI filing and fee payment are due August 1, 2022 for plans…
Read More
ICHRAs and SEPs: Leveraging ICHRA Classes
This is the 3rd post in a series on ICHRAs and SEPs. Links to others can be found below. Over the past few weeks, we have posted a few items…
Read More
ICHRAs and SEPs: How Companies can Benefit
In a previous post, we looked at how offering an Individual Coverage Health Reimbursement Arrangement (also called an Individual Coverage HRA or ICHRA) opens up a Special Enrollment Period (SEP)…
Read More
