Nexben FAQ
What types of plans are accessible for enrollment on Nexben?
Our platform includes options for medical, dental, vision, disability income and life insurance. You can compare and generate quotes for Medicare, individual and small group plans. You can also access Trovia, the premier ICHRA marketplace solution.
What makes Nexben an end-to-end solution?
The Nexben technology platform drives the Nexben marketplace. You can research, quote, and propose—and your clients can select a health benefit package, roll seamlessly into enrollment, and manage the carrier payment process—all from the one-stop Nexben platform.
Are the carriers available within Nexben limited?
Simply put: no. There are more than 1 million product rates from both national and local carriers available and using data and side-by-side comparisons, you’re able to quickly compare plans and choose the best options for clients to consider. The platform is scalable, meaning carriers and products are continually being added in order to provide the most robust marketplace.
Can I view and manage client profiles within the platform?
Yes, you can make changes to client profiles in real-time and view which plan and provider their employees are selecting. You can also send your clients notifications and messages from within the platform.
Can an employer view and manage employee profiles within the platform?
Yes, clients can make necessary administrative changes to employee information in real-time. Employees can also update their own profiles, keeping them accurate and up-to-date.
My client wants to switch their employees from a traditional group to an ICHRA plan. Is this possible within the platform?
Yes, they can switch employees from a traditional group plan on Nexben to an ICHRA plan. No need to switch platforms, the Trovia marketplace is available on the Nexben platform. And it provides you the ability to compare small group plans to an ICRHA plan.
Trovia FAQ
Is Trovia available in all geographical markets today?
Yes, Trovia is available in all markets across the United States.
What employers are able to offer ICHRAs?
ICHRAs have changed the landscape, opening the doors to businesses that were previously unable to offer an HRA.
Employers of all sizes may offer an ICHRA. In addition, any employer with two or more employees can access Trovia.
What groups and industries typically use ICHRAs?
ICHRAs are a good fit for the following:
- Small Groups (<50)
- Groups with 50-500 employees with higher claims and/or higher rates
- Groups with participation issues
- Groups with contribution concerns
- Associations, co-ops, franchises, etc.
- Industries such as hospitality, entertainment, seasonal, high-turnover, etc.
Can a company offer an ICHRA to one group of employees, and a traditional group plan to other employees?
Yes, they can accomplish this by dividing the employees into classes. There are 11 different classes of employees (e.g. fulltime, part-time, geographic, salaried, non-salaried). Employees in the same class can only be offered a traditional group plan or an ICHRA—not both in the same year. When an employer offers an ICHRA, it must be offered on the same terms to all individuals in a class of employees although the amounts my be increased for workers who are older or have dependents.
How does the ICHRA Special Enrollment Period work?
Generally individuals enroll in or change their individual health insurance during the annual Open Enrollment which runs from November 1 to December 15. Outside of Open Enrollment, individuals need a qualifying life event (e.g. marriage, divorce, job change, moving or having a baby) to trigger a Special
Enrollment Period.
- Now, employers offering an ICHRA will trigger a Special Enrollment Period for employees, providing the employee 60 days to purchase qualified health insurance coverage. The triggering event is the first date the employee is able to participate in the ICHRA. Note: Employers may also set up an ICHRA any time during the year.
Are there specific participation Notice Requirements that must be sent to employees when offering an ICHRA?
Employers offering an ICHRA must provide written notice to each participant at least 90 calendar days before the beginning of each plan year, with two exceptions.
There is NOT a 90-day notice requirement for:
1. Employees who becomes eligible during the plan year, or later than 90 days before the start of the plan year (such as newly hired employees). Notice must be given no later than the date on which their coverage under the ICHRA can begin.
2. Employers adopting an ICHRA, for the first time, less than 120 days before for the beginning of the plan year. Notice must be given no later than the date on which the ICHRA first takes effect for any eligible employee.
How does the payment piece of Trovia work?
Trovia manages payments just like other group health plans Employee contributions are automatically payroll deducted on a pre-tax-basis and combined with the employers’ pre-tax contribution. Employers receive one monthly consolidated bill for all employee plans and make one payment for all employees. Trovia takes care of directing the funds to each carrier.
If an employee’s employment is terminated and/or they are no longer eligible for the ICHRA, how do they retain their individual health insurance coverage?
The employee must contact the carrier to change the billing address. The employee will be responsible for paying premiums directly to the carrier. Also, should the employee choose to terminate the coverage, they will need to contact the carrier directly.
