PeopleKeep's 2023 ICHRA Report  

Employers' generous use of ICHRAs enables employees to purchase higher-tier health plans

With rising group health insurance premiums, employers need a more affordable and flexible solution that still offers their employees quality healthcare. 

In the search for a health benefit that offers more autonomy for employees and more budget control for employers, many have found that the individual coverage health reimbursement arrangement (ICHRA) meets the needs of both employees and employers.

Fill out the form to read the full report to see how today's employers are using their ICHRA.


See a sample of the data included in the 2023 ICHRA report below

We're highlighting a few data points and findings from this year's report in the sections below.

Employers are offering nearly double the cost of a gold-level health plan in ICHRA allowances

The average monthly allowance employers offered their employees between July 1, 2022, and June 30, 2023, was ​​$908.80.

This year’s average allowance amount exceeded the cost of the average lowest-cost self-only gold plan premium for a 40-year-old on the federal Health Insurance Marketplace,, which comes in at $472 for 2023.


A sneak peek at our key findings

ALEs took advantage of the ICHRA's flexibility

Applicable large employers used five employee classes in their benefit design compared to 1.6 classes on average for non-ALEs.

Popular out-of-pocket expenses

Employers reimbursed 4.9 office visits and 11.6 prescriptions on average per employee in the last year.

More employers offer premium-plus plans than premium-only

56% of employers offered a premium-plus plan that can reimburse insurance premiums and more than 200 out-of-pocket expenses.


Want more? Get the full report

Download the full report to find out: 

  • How the average ICHRA allowance compares to QSEHRA allowance caps
  • Average allowances by family status
  • Most popular classes used by employers

Learn more about PeopleKeep

What is PeopleKeep?

PeopleKeep is a personalized benefits administration software company. We serve small and midsize employers across many industries ranging from nonprofits, to high tech, to engineering. Because our software is intuitive and can be managed in minutes per month, we make providing benefits more accessible to organizations that do not want to manage complex and tedious administrative tasks.

Visit our About Us page to learn more

What other reports has PeopleKeep published?

As the industry leader in HRAs and personalized benefits, PeopleKeep prides itself on publishing proprietary data on all things HRAs and employee benefits. 

PeopleKeep released three reports on the employee benefits employees value most, surveying more than 900 employees of small and midsize employers. 

Download our Benefits Survey Part 1 

Download our Benefits Survey Part 2 

Download our Benefits Survey Part 3 

We publish annual reports on the QSEHRA and ICHRA.

2023 QSEHRA report

What products does PeopleKeep offer?

We provide software that allows organizations to offer health reimbursement arrangements (HRAs) and employee stipends. Learn more about each of our products below: 

  • Qualified small employer HRA (QSEHRA): A simple, controlled-cost alternative to group health insurance for employers with 1-49 employees.
  • Individual coverage HRA (ICHRA): A flexible health benefit solution for employers of all sizes that can be used alone or alongside group health insurance.
  • Group coverage HRA (GCHRA): A group health supplement for employers already offering a group health insurance plan to help employees with out-of-pocket expenses.
  • WorkPerks: Reimbursable employee stipends that broaden employee benefits. Offer customizable perks for anything from wellness to commuter benefits.

How much does a plan with PeopleKeep cost?

At PeopleKeep, we help you implement budget-friendly, compliant benefits without the hassle. Pricing will vary depending on which product you're interested in and how many employees you'll have enrolled in the benefit. 

Visit our pricing page to get an instant quote