Benafica helps employers replace rigid group health plans with more flexible, tax-free health reimbursement arrangements, so you can offer better benefits at a predictable cost.
A tax-advantaged solution that lets employers reimburse employees for individual health insurance premiums and qualified medical expenses — without the complexity of traditional group plans.
The most flexible health benefit for employers of any size. Set a monthly allowance by employee class, let employees choose their own individual health insurance, and reimburse them tax-free. No contribution limits or participation minimums.
Designed for small businesses with fewer than 50 employees. Offer your team a simple, tax-free health benefit with IRS-set contribution limits. Employees can use any qualifying coverage, including a spouse’s plan or Medicare.
As a licensed TPA, we administer a comprehensive suite of benefit programs including life insurance, dental, vision, auto and home insurance, as well as specialty and voluntary benfits. With 60+ years of experience, our team understands the nuances of multi-employer associations, complex eligibility rules, and the compliance landscape that governs employer-sponsored benefits.
Navigating Medicare doesn’t have to be confusing. Benafica’s licensed Medicare brokers in Minnesota and Wisconsin help you compare and enroll in the right Medicare plan. Whether you’re turning 65, aging off an employer plan, or just looking to review your current coverage, we can help!
When group health stopped working, Rydell found a new path forward with ICHRA.
In this short video, the team at Rydell Auto Center shares how they partnered with Benafica to implement an Individual Coverage HRA (ICHRA) as a cost-effective alternative to their traditional group health insurance plan.
BEN360 is Benafica’s in-house ICHRA administration platform, built specifically to handle the compliance, reimbursement, and reporting demands of a well-run ICHRA.
What happens to an employee’s premium tax credit eligibility when they get offered ICHRA or QSEHRA dollars? Learn more about how each HRA coordinates with premium tax credits and things you should consider as an employer before you implement a plan.
As federal efforts to codify ICHRA stalled in Congress, several states have begun pursuing their own solutions. Connecticut has become the latest state to adopt a state-level ICHRA tax credit. Here’s a look at the states leading the way and those worth watching.
Wondering how HSAs fit with HRAs? This guide explains what a Health Savings Account is, how it works, and when you can pair an HSA with an HRA like ICHRA or QSEHRA while keeping employees HSA-eligible and your benefits strategy compliant.
