Offer competitive health benefits to your employees, across state lines, using a health reimbursement arrangement (HRA)
An HRA is a health benefit that allows employers of all sizes to offer a set amount of pre-tax dollars to their employees who can then spend it on things like insurance premiums, copays, and other qualified out-of-pocket costs, depending on the HRA. We like to think of it as the best of group health insurance with none of the downsides, and it works across state lines.
Using an HRA, you can:
One struggle many employers have is finding an affordable health benefit that functions well in multiple states. Because an HRA is a reimbursement arrangement and not a health insurance policy, coordinating its use across state lines requires no additional effort. This enables employers to determine their allowance cap and avoid having to deal with health insurance renewals every year.
See how PeopleKeep customers used the ICHRA in the first three months of 2020:
If you are an applicable large employer (ALE), which is any employer with 50 or more full-time equivalent employees, then you are required to offer minimum essential coverage to at least 95% of full-time equivalent employees and their dependents. Luckily, the ICHRA satisfies the requirements of the employer mandate, as long as your health benefit is considered affordable.
For employers with 1-49 employees
A simple, controlled-cost alternative to group health insurance.
For employers of all sizes
A flexible health benefit solution that can be used alone or alongside group health insurance.
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Choosing the right health benefit can be difficult. Learn which HRA is right for your organization.
Each month, employees have a predetermined allowance amount that they can use toward eligible expenses. Once that allowance amount is reached, it cannot be exceeded.
Employees love HRAs, too. Using an HRA, they can get reimbursed for health insurance premiums and eligible out-of-pocket expenses, depending on the HRA.