Employer Group Health Insurance Options Are Changing in 2020 with ICHRAs

LAS VEGAS - Feb. 7, 2020 - PRLog -- Beginning in 2020, some employers will have the option of reimbursing employees' health insurance premiums by using an ICHRA as an alternative to providing a group health insurance plan. This change will provide a great deal of flexibility for both employers and employees, letting employers control costs while letting employees find a health insurance plan that will fit their lifestyle.

What Is an ICHRA?
An individual coverage health reimbursement arrangement, or ICHRA, is an employer-funded health benefit used to reimburse employees for healthcare expenses. With an ICHRA, businesses of any size can provide their employees with a monthly allowance of tax-free money that can be used to pay for approved health care services, including individual health insurance.

The Pros and Cons of ICHRAs
As with traditional employer-sponsored health insurance, ICHRAs have their positives and their drawbacks. If you'll be purchasing health insurance using an ICHRA in 2020, talk to a health insurance agent for guidance.

Read the full article: https://www.nevadainsuranceenrollment.com/employer-group-health-insurance-options-changing-in-2020-with-ichras/

Learn more: https://www.nevadainsuranceenrollment.com/group-health-insurance/

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Website: NevadaInsuranceEnrollment.com