An ICHRA allows employees and employers to quickly adapt when life happens. But when transition arises, it can lead to a long “to-do” list for administrators—whether it’s adding a new employee or navigating employee termination. Luckily, Nexben’s all-in-one ICHRA marketplace is designed to streamline the ICHRA administration process.
In this blog, you’ll learn how to manage key ICHRA administration processes with Nexben’s all-inclusive ICHRA solution.
Adding New Employees
When adding a new employee follow these steps:
- Enter new employee details into the employee directory and add effective date for benefits
- Add the new employee to the appropriate enrollment
- Invite the employee to create an account and to begin the enrollment process
- Confirm that all employee changes/updates are completed by the 15th of the month prior to change effective date and before any payments are made
Medicare eligible employees should be instructed to call 877.487.6842, option 2 to work with a Medicare Certified Representative.
Employee Terminations
When employee transition or termination happens, navigate the process by following these steps:
- Change the employee status to terminated and non-benefit eligible in the Employee Directory
- Inform the employee that they may continue their individual medical coverage with the carrier. The employee will need to contact the carrier directly by calling the number provided on the back of their member ID card.
- Inform the employee that they will be responsible for paying all premiums going forward should they choose to maintain their individual health insurance coverage
- Should the employee want to terminate their coverage, inform them that they are responsible for reaching out to the carrier to inform them of the decision to terminate coverage
Future Premiums
Remember, as the employer, you may decide to continue providing a contribution towards an employee’s premium for future months. The platform does not support post-termination payment processing, so employers should work with a COBRA administrator to set up any ongoing employer contributions. After transition, employees are responsible for paying the full health insurance premium directly to the carrier and then providing you, the employer, with the proper documentation for reimbursement.
