Are rising healthcare costs and a "one-size-fits-all" approach to benefits challenging your HR strategy? Individual Coverage Health Reimbursement Arrangements (ICHRA) offer a modern, ACA-compliant solution that redefines employee healthcare. ICHRA shifts to a "defined contribution" model, allowing you to provide a tax-free allowance for employees to purchase individual health plans that perfectly suit their unique needs. This gives you unparalleled budget control and transforms healthcare from a variable expense into a predictable line item.
The impact is real: New England Life Care reduced healthcare costs by 40% and redirected $3.8 million to wages, while Rose Group saved $1.6 million and saw employee turnover plummet. Employees love the choice, with 94% reporting high satisfaction. ICHRA's flexibility, scalability, and simplified administration make it ideal for businesses of all sizes, offering a strategic advantage in attracting and retaining talent.
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