PeopleKeep’s individual coverage health reimbursement arrangement administration software is a health benefit for small and medium size businesses and organizations that can function alone or combined with group health insurance
For many employers, offering a traditional group health insurance plan doesn’t work because it’s too expensive, too complex, and too one-size-fits all to meet their needs. An individual coverage health reimbursement arrangement (ICHRA) can be a great alternative.
An ICHRA is a formal group health benefit that organizations of all sizes can use to reimburse their employees, tax-free, for individual health insurance premiums and other healthcare expenses. Whether you use it as a stand-alone benefit or as a separate option alongside a group health insurance plan, an ICHRA can satisfy the employer mandate for applicable large employers (ALEs).
“It’s such a lovely thing not to have to worry about [our ICHRA]. PeopleKeep handles the legal stuff—I didn’t have to do it at all. I’m used to having to do everything from scratch.”
Office Manager of O'Dorisio Carpentry & Concrete
With an ICHRA you can set unique allowance caps, giving you complete control over your health benefits budget. There are no minimums or maximums, but unique rules apply to ALEs.*
With an ICHRA you avoid the annual rate hikes, contribution, and participation requirements that many experience with their group health insurance plans.
With an ICHRA you choose who is eligible to participate in the benefit based on employee classes, such as by age or state, and family statuses that you determine.
With an ICHRA employees can purchase the health coverage of their choosing. They can use their ICHRA toward an individual policy and out-of-pocket expenses, depending on what you choose to reimburse.
From setting up employee classes to choosing what expenses you want to reimburse (only insurance premiums or also out-of-pocket expenses) you have complete control when it comes to designing your benefit.
Administering an ICHRA with PeopleKeep only takes a few minutes every month, thanks to our easy-to-use dashboards. You can see who’s using the benefit, check reimbursement deadlines, and even reimburse employees through payroll.
By signing up for an ICHRA with PeopleKeep, we automatically generate all the legal plan documents you need. We’ll even keep tabs on your benefit to make sure it stays compliant with IRS, HIPAA, and ERISA regulations.
Whether it’s by phone, email, or live chat, our responsive, U.S.-based customer support team and free help articles are there for you and your employees anytime you need us.
Join thousands of others who use PeopleKeep to administer their ICHRA
Reimbursement dollars processed
At PeopleKeep, we know that every organization is unique, which is why our software makes customizing your ICHRA simple and stress-free. From offering your employees different allowance amounts based on their employee class to choosing between reimbursing employees for only their insurance premiums or also their qualifying medical expenses, your ICHRA benefit will be completely tailored to your needs.
Maybe that’s why we have hundreds of five-star reviews on Google, Capterra, and G2. Or maybe it’s because they love how intuitive and simple our software is to use. Either way, our team handles the administrative and compliance burden so you can focus on running your organization.
See what our customers have to say on Google, Capterra, and G2.
To get started, you’ll create a PeopleKeep account for your organization. Here you’ll fill in basic information about your organization, like the address, phone number, and tax-filing status.
We use the information you enter in this setup process to instantly set up your legal plan documents, which are part of what makes your ICHRA plan compliant with all applicable federal regulations.
You’ll also include some basic contact information about you. As the benefits administrator, you’ll be able to add and manage benefits, users, and billing information. You’re welcome to add more admins later to help manage your account.
Now you’re ready to design your benefit so it’s tailored to you and your employees’ needs. This step includes choosing a monthly allowance amount, deciding if you want employees with different family statuses or classes to receive different allowance amounts, and choosing whether or not you’d like to reimburse employees for qualifying out-of-pocket expenses in addition to their insurance premiums.
Next, you’ll add the names and emails of each of the employees you want to participate in your ICHRA benefit. With an ICHRA, employees can choose whether they want to opt in or out of their ICHRA benefit depending on whether their allowance is considered affordable, and if they qualify for premium tax credits.
When you’re ready, the last step is for you to sign your benefit documentation to officially launch your ICHRA. Once it’s signed, we’ll automatically invite your employees to start using it on the start date you chose!
Individual Coverage HRA
An HRA with all the benefits of group health with none of the downsides.
$150 one time set-up fee
Only employees that opt in to participate in the ICHRA are included in the per-employee fee
Speak with a PeopleKeep personalized benefits advisor who can help answer questions, set up your account, and guide you through the beginning stages of your new benefit.