Individual Coverage HRA
(ICHRA)
All Services
Individual Coverage HRA is a game-changer for employers looking to provide health benefits to their employees. It represents a new, more modern model of employer-sponsored health insurance where you can reimburse employees tax-free for individual health insurance premiums and other medical expenses. ICHRA (we pronounce it "ick-rah") stands for "Individual Coverage Health Reimbursement Arrangement" and is available for employers to start using in January 2020.

How an ICHRA works with Omega

Choose Eligibility
Set the Allowance
Employees Purchase Coverage
Employees Confirm Purchanse
Employees Submit Proof of Purchase
Employers Approve Expenses for Reimbursement

Benefits of an ICHRA

1) Employer sets allowance caps, with no minimums or maximums, giving you total control over your health benefit budget. *(rules apply to applicable large employers (ALEs).
2) No group health insurance plan annual rate hikes.
3) Customize benefit eligibility based on employee class, family status, or special group.
4) Employees choose from hundreds of coverage options that best fit their needs.

When you choose an ICHRA plan for Omega

  • Latest Technology / Ease of Use
  • Licensed Health Benefit Consultants
  • Access to Additional Voluntary Benefits
  • Dedicated Customer Service
  • 100% Compliance

"If you are an applicable large employer (ALE) trying to satisfy the employer mandate, then your allowance amounts must be enough to make employees' health insurance affordable."