Benafica HRA experts ICHRA broker

HRA ADMINISTRATION EXPERTS FOR BROKERS

Simplify employee benefits for your client

  • Easily gauge what HRA is right for your client
  • Help your client get better budget control w/ ICHRA
  • Look your best as brokers w/ Benafica’s end-to-end service excellence
  • Brokers keep your commissions
Simplify your Employee Benefits for your Clients Broker brokers ICHRA healthcare health insurance employee benefits administration
Simplify your Employee Benefits for your Clients Broker brokers ICHRA healthcare health insurance employee benefits administration

ICHRA ADMINISTRATION EXPERTS

Simplify employee benefits for your client

Easily gauge what HRA is right for your client.

 

Help your client get better budget control w/ ICHRA.

 

Commissions are brokers to keep.

Talk to sales
Benafica Office HRA ICHRA Broker Benafica Agents commissions

How to talk to your clients about ICHRA

Benafica Office HRA ICHRA Broker Benafica Agents commissions
  • Dual tax advantage
  • Greater flexibility – Employees select healthcare plan of their choice
  • Plans are fully portable from job to job
  • Better budget control

Group Health Plan Challenges

ICHRA Advantages

Plan Design: One-size-fits-all approach might not meet all employees' needs
Greater Flexibility: Employers can set different allowance levels based on employee classes, allowing for tailored benefits
High Costs: Often more expensive for employers, especially small businesses, due to rising premiums.
Cost Control for Employers: Employers have predictable costs making it easier to budget your employee benefits spend
Minimum Participation Rules: Can be challenging for small or diverse businesses to meet insurer requirements
No Minimum Participation Requirements: Ideal for small businesses or those with a diverse workforce
Limited Flexibility for Employees: Employees must accept the plan chosen by their employer, with limited options
Greater Flexibility: Employees choose their own plans, ensuring they get the coverage that best fits their needs
Administration: Employee support falls solely on the employers HR team
Administration: Full service account management support from Benafica
  • High turnover
  • Unaffordable renewal
  • Low participation
  • Complex organizational structure (multiple locations, remote workers, etc.)
  • Never offered benefits – ICHRA as entry point
  • Dual tax advantage
  • Greater flexibility – Employees select healthcare plan of their choice
  • Plans are fully portable from job to job
  • Better budget control

Group Health Plan Challenges

ICHRA Advantages

Plan Design: One-size-fits-all approach might not meet all employees' needs
Greater Flexibility: Employers can set different allowance levels based on employee classes, allowing for tailored benefits
High Costs: Often more expensive for employers, especially small businesses, due to rising premiums.
Cost Control for Employers: Employers have predictable costs making it easier to budget your employee benefits spend
Minimum Participation Rules: Can be challenging for small or diverse businesses to meet insurer requirements
No Minimum Participation Requirements: Ideal for small businesses or those with a diverse workforce
Limited Flexibility for Employees: Employees must accept the plan chosen by their employer, with limited options
Greater Flexibility: Employees choose their own plans, ensuring they get the coverage that best fits their needs
Administration: Employee support falls solely on the employers HR team
Administration: Full service account management support from Benafica
  • High turnover
  • Unaffordable renewal
  • Low participation
  • Complex organizational structure (multiple locations, remote workers, etc.)
  • Never offered benefits – ICHRA as entry point
  • Personalized service
  • Customized plans
  • Keep your clients longer
  • We have a track record of success retaining clients because of our customer care

Connect with Benafica

What is an ICHRA?

Simpler Approach

An ICHRA is an alternative to traditional health insurance that offers greater flexibility and control for both employers and employees. Provides cost control and savings for the employer, gives flexibility to the employee to choose health insurance more suitable to their needs, and it removes the burden of health plan administration. Expand your knowledge as brokers.

Keep reading

Contact Info

  • Mon – Fri: 9 AM – 5 PM Sat – Sun: Closed
  • 6701 Upper Afton Road Saint Paul, MN 55125
  • 651.287.3253 info@benafica.com