Could A Health Reimbursement Arrangement Be Right For Your Business?
With Employer Group Health Plan premiums continuing to increase many companies are looking for a legitimate alternative. We have partnered with industry leading People Keep and BASE to bring you just that, an option that will save you and your employees precious time and money when it comes to your employee’s health insurance.
The Affordable Care Act created “Qualified Health Plans” in the Individual/Family plan Marketplace. Over the past few years these plans have stabilized and become a much better value when compared to Employer Group Plans. The problem has been, Employers couldn’t pay for those plans with pretax dollars without jeopardizing individual tax credits...until now.
In comes the Individual Coverage Health Reimbursement Arrangement or ICHRA. This relatively new HRA was created by the IRS in January of 2020. This, along with the Qualified Small Employer HRA (QSEHRA) that was created under the Cures Act of 2016 have provided new opportunities for Small Business owners.
In short, these HRAs allow your business to reimburse your employee for their Individual/Family plan premium and/or their out of pocket. While both HRAs allow you to reimburse your employees tax-free for health insurance, the main differences revolve mostly around which employees you’d like to offer this benefit to and how much you’d like to offer them. You have more control over these variables when compared to the traditional Employer Group Plans.
The best part? We work with your employees to find the best plan for their needs each year and People Keep takes care of all the reimbursement details. Once set up...you are done dealing with Health Insurance so you can focus on growing your business!
To request a proposal please click on the "Get Quote" button at the top of the this page, fill out the sheet and email to firstname.lastname@example.org. Questions? Please fill out the form below and we will reach out to discuss.
Licensed Insurance Broker (NO FEE)
Daniel Monahan: Transition Health Benefits
790 N Milwaukee St.
Milwaukee, WI 53202
Neither Transition Health Benefits nor Daniel Monahan is connected with the Federal Medicare program. This is an advertisement for insurance. CMS required disclosure: We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-Medicare to get information on all your options.