An ICHRA is an acronym for an Individual Coverage Health Reimbursement Arrangement. This is a reimbursement account set up and funded by an employer that helps pay for health insurance premiums incurred throughout the plan year. This is also designed to help offset out-of-pocket financial responsibilities associated with an employee’s healthcare. Additionally, the funds in this account can be used to pay for individual health insurance premiums each month.
A Health Reimbursement Arrangement (HRA) is an account funded by your employer that helps pay for qualified medical expenses acquired throughout a plan year. Here’s how you can benefit by participating in one.
To learn more about an HRA and all of its utilizations, check here.
Spouse Saver helps cover up to 100 percent of out-of-pocket expenses like copays, coinsurance, and deductibles during doctor and hospital visits incurred by an employee’s spouse.
This cost-saving resource is possible once an employee enrolls in their employer’s group health insurance plan. Instead of adding their spouse to the plan, the spouse can take advantage of their employer’s group health insurance plan. Once enrolled in the plan, the spouse provides proof of coverage to the employee. Once verified, the employee’s company sets up an account for the spouse to use for their in-network, out-of-pocket expenses. To learn more about Spouse Saver and review other useful information, check here.
