??? ICHRA - my day job has less than 50 Employees . . .

[The Benefit Coach]

ICHRA - my day job has less than 50 Employees . . .

They are offering us an ICHRA using a TPA called ZizzlHealth which seems to use the Marketplace.

Using Zizzl for a specific plan - my Premium = $709 . That is after my Employer contribution of $870 per month.

If my employer didn't offer us an ICHRA and I went to the Marketplace and used my tax subsidy - my Premium for the same plan = $732.

What happened to the $870 my company paid each month?

Are there some tax deduction advantages for the Company that I'm not aware of -or- why did they do it?

Depends on the demographics of the companies employees. For younger employees. $870 would cover most if not all of the premiums for a bronze or maybe even a silver plan. Plus if they want a higher level plan, they have that option too. They just have to pay the difference. Employees on family coverage can also split up their plan choices with an ICHRA that's not an option with group plans. ICHRAs offer much more flexibility than traditional group plans.

As for tax deduction advantages, it's the same as with group plans. But it does have the benefit of getting the employer out of the claims business. They don't have worry about high utilization impacting their renewals.

 

[myinsurebiz]

If we weren't offered an ICHRA - I could go to the Marketplace utilizing a QSEHRA, use the Subsidy and get coverage for my Wife and Son on the same plan for what my contribution is on the ICHRA. Plus - this would save my employer $820 if they contributed $50 towards my QSEHRA . . .

Albeit - would be Post-Tax, but I was paying for Marketplace coverage anyway out of my pocket.

The damn ICHRA hurts all of us Employees except our Boss and that is because he and his wife make bank.

 

[DonP]

If we weren't offered an ICHRA - I could go to the Marketplace utilizing a QSEHRA, use the Subsidy and get coverage for my Wife and Son on the same plan for what my contribution is on the ICHRA. Plus - this would save my employer $820 if they contributed $50 towards my QSEHRA . . .

Albeit - would be Post-Tax, but I was paying for Marketplace coverage anyway out of my pocket.

The damn ICHRA hurts all of us Employees except our Boss and that is because he and his wife make bank.

What's your day job? You don't do insurance full time ?

 

[myinsurebiz]

What's your day job? You don't do insurance full time ?

I manage a Rent To Own company.

I'm pivoting to ACA & Ancillary Benefits for Small Businesses utilizing QSEHRA's - 2 to 10 Employees. Goal is to get 500 Lives on the books with Avg Monthly Commissions of $50 per Employee.

No chargebacks and true Residual Income.

Still writing some FE from Mailers - but only 1 or 2 a week.