Benafica handles every detail of your Individual Coverage HRA — from plan documents and compliance to reimbursements and reporting — so you can offer flexible health benefits without the headache.
Talk to an ICHRA specialist and get a no-obligation financial analysis to see how ICHRA stacks up.
An Individual Coverage HRA (ICHRA) lets employers reimburse employees tax-free for their own health insurance instead of providing a one-size-fits-all group plan. Employees shop for plans they actually want. You control the budget.
Group Plan
ICHRA
Our BEN360 platform and ICHRA specialists manage the entire administration lifecycle — so you never have to navigate compliance alone.
Plan Documents & Setup
We draft IRS-compliant plan documents, notices, and offer letters tailored to your organization’s ICHRA design — fast and correctly, the first time.
Compliance Management
Stay on the right side of ACA, IRS, and ERISA requirements. We monitor regulatory changes and keep your ICHRA updated automatically through BEN360.
Reimbursement Processing
Employees submit claims, we verify coverage and eligibility, and process tax-free reimbursements — all through a streamlined platform.
Reporting & Record Retention
We provide employer and employee reports for tax season and maintain secure records for the required retention period — no extra work on your end.
Employee Onboarding Support
We help your team understand how to use their ICHRA, find compliant individual coverage, and submit reimbursements correctly — reducing HR support burden.
Dedicated Account Executive
You get a named ICHRA specialist — not a call center. Ask questions, get guidance on design decisions, and receive proactive outreach before key deadlines.
1. Free Consultation
We learn about your organization, goals, and budget. You leave with a clear ICHRA design recommendation.
2. Plan Design & Documents
We configure your ICHRA, draft your plan documents, and prepare your employee notices.
3. Employee Enrollment
Employees receive onboarding communications, select individual coverage, and connect their accounts in BEN360.
4. Ongoing Administration
We handle reimbursements, compliance monitoring, and reporting on a continuous basis. You stay in control of your budget without the administrative lift.
ICHRA has no contribution limits and can be offered to any employer, regardless of size. QSEHRA is limited to employers with fewer than 50 employees and caps annual reimbursements ($6,450/individual and $13,100/family in 2026). ICHRA is also more flexible in how you structure benefit classes for different employee groups.
Employees enroll in health insurance directly through our BEN360 online platform, where the process is guided, quick, and designed to feel as simple as shopping online. Within a few steps they can add spouses and dependents, compare plans, and shop by preferred doctors or networks.
Benafica’s ICHRA administration is priced as a simple monthly subscription based on actual participation. We charge a flat $100 per month platform fee, plus a per-enrolled-employee-per-month (PEPM) fee. In some cases, your broker or benefits consultant may also add their own PEPM consulting fee on top of Benafica’s standard pricing.
Yes, in many cases you can move from a traditional group health plan to an ICHRA mid-year, but there are some important caveats. When you switch, deductibles, out-of-pocket maximums, and other accumulators usually do not transfer from the old plan to the new individual coverage. That means employees may effectively “restart” their deductible when they change plans. If you transition to an ICHRA mid-year or move your ICHRA administration from another provider to Benafica, we coordinate the timing and details carefully to help avoid any gap in coverage for your employees.
A TPA manages the administrative and compliance work of your ICHRA so you don’t have to. This includes drafting plan documents, verifying employee eligibility, processing reimbursement claims, managing records, and ensuring ongoing ACA compliance. Without a TPA, these responsibilities fall entirely on your internal team — which is often overwhelming for small businesses.
ICHRA works well for most employers — especially those frustrated with rising group plan premiums, those with a geographically distributed workforce, or those wanting to give employees more plan choice. It’s particularly powerful for companies with 1–100 employees. Our free consultation will tell you definitively whether it’s the right fit for your situation.
