Nexben’s all-in-one ICHRA marketplace provides simplified health insurance premium billing.
The HRA Council is a non-profit, non-partisan advocacy organization comprised of HRA administrators and practitioners. They put together this document in order to set the record straight about common misconceptions.
Identify which of your clients may benefit from adopting an ICHRA solution.
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.
Nexben’s all-in-one ICHRA marketplace makes makes the enrollment process easy for everyone.
Nexben’s ICHRA solution makes the health insurance benefits enrollment process seamless for both brokers, clients and their employees. When starting with a proposal, why not start paperless? Our technology is capable of driving the entire process from quoting, to enrollments from one platform, with no paper.
The Affordable Care Act imposes a fee on plan sponsors (usually the employer) of applicable self-insured health plans to help fund the Patient-Centered Outcomes Research Institute (PCORI). All HRAs are considered self-insured plans, including ICHRAs.
We’ll start with a general step-by-step guide from the point of view that a company is starting from scratch with an ICHRA. Almost as if they have not offered health insurance benefits in the past. Then we’ll see how this changes when transferring from another type of group health plan to an ICHRA.
Adapted from an article originally published in the July 2021 issue of America’s Benefit Specialist, the official publication of The National Association of Health Underwriters (NAHU)
Nexben’s ICHRA solution is amplified by its technological capability, which includes side-by-side health insurance plan comparisons! Brokers moving away from the traditional way of quoting benefits will greatly enjoy this modern improvement to benefits administration.