Kyle Estep: Exploring the Benefits of ICHRA

Business of Health with Mike Martens

Kyle Estep is the Vice President of Growth at Take Command Health, a company offering an end-to-end Individual Coverage Health Reimbursement Arrangement (ICHRA) platform solution for employers adopting the new individual coverage reimbursement model of employee benefits.

In this episode, Mike and Kyle discuss the health care policy landscape, the impact of ICHRA on the individual market, and how employers can benefit from options like the QSEHRA.

The Individual Coverage HRA (ICHRA) is a relatively new concept in the world of health care that is empowering employers to take control of their health care costs. ICHRA is a type of health reimbursement arrangement (HRA) that allows employers to provide their employees with tax-free reimbursements for health care expenses. The ICHRA was introduced in 2020, but its predecessor, the Qualified Small Employer HRA (QSEHRA), has been in existence since 2017.

ICHRA is beneficial for employers because it gives them more control over their health care costs. Employers are able to customize their plans to meet the needs of their employees, rather than relying on the group market for their coverage. This allows employers to provide more cost-effective coverage to their employees and to tailor their plans to meet the specific needs of their workforce.

Overall, the ICHRA program is a great option for employers looking to provide their employees with more choice and access to care. It is cost-effective, provides more options and stability, and allows employers to provide their employees with the coverage they need.

Three Takeaways

1. Shop for the best health plan.
2. Employees need more choice.
3. Communication is key to success.

Resources

Email Kyle: [e-mail]

LinkedIn: linkedin.com/in/kyle-estep-8048828

Contact Mike Martens: linkedin.com/in/firststaffbenefits

Email: [e-mail]

Quote

“When the ICHRA came into being, it has grown 3.5 times in just 2 years.”