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We’ve talked a lot about the widespread adoption and popularity of the Individual Coverage Health Reimbursement Arrangement (ICHRA.) So many companies have already embraced the model, saving money and pleasing employees with renewed health insurance options via the ACA Marketplace. You may have already begun to explore what the ICHRA entails in consideration for an adoption of the offering within your company. With Open Enrollment 2022 just around the corner, it might be time to revamp your health insurance offerings.

With Open Enrollment for 2022 health insurance coverage around the corner, you might be weighing all of your options right now. These next few weeks, you’ll likely be looking into costs and coverages with your traditional group plan. But before you decide to renew any old plans, now is also a great time to look at the many benefits associated with the ICHRA solution. Here’s a recap of the benefits and advantages you can expect should you join so many others and adopt the ICHRA for your business.

ICHRAs Offer the Best of Both Worlds

Flexibility is the big attraction for the ICHRA model, and it’s the customization of these platforms that appeals to both employers and employees. ICHRAs aren’t just good for the company budget. They’re also providing more affordable coverage options across a broader range of employee types at the individual staff level. And being able to offer the best of both worlds, quality coverage options, and affordable price points for all are some of the most significant reasons why companies are making the switch away from traditional group coverage.

Company & Employees

Companies can be flexible in how they set up the ICHRA based on the available budgets. Employers can determine reimbursement amounts and establish the internal processes that work best with their existing platforms. On the employee side, having an ICHRA means being free to explore health insurance options via the ACA Marketplace within personal budgets and to fit individual health coverage needs.

Cost & Care

Instead of overspending on group coverage options that don’t always provide the unique benefits to individuals on the plan, the ICHRA can be precise about reimbursing for individually chosen coverages. As a result, employees get the care they need, and the company can reimburse directly for costs instead of an umbrella approach to coverage that doesn’t always cater to the teams. Companies appreciate being able to apply budgeted dollars to those exact employee-related expenses.

Flexibility & Control

Companies enjoy the ICHRA model, too, because it’s entirely managed, funded, and maintained by the employer. These reimbursements can be determined according to company budgets and can also extend to more than the traditionally covered, full-time employee. In addition, an employer can facilitate reimbursements how they see fit, including with the help of a third-party administrator or internally altogether.

Benefits of Adopting ICHRAs

ICHRAs allow businesses to offer the mandated coverage options, via reimbursements, without having to pay for those typically expensive group plans. Not knowing what health insurance-related costs will come out for the year in the traditional group model can be riskier than dictating budgets for the year ahead of time, as with ICHRAs. There are other inherent benefits that accompany the adoption of an ICHRA platform, as well.


ICHRAs are great for smaller businesses with tighter budgets. But they’re also ideal for any company that is experiencing growth. ICHRAs can be amended and can scale with the business, making it easier to onboard new team members and fold them into the existing reimbursement plans. As the company budget grows, the ICHRA reimbursement amounts can grow, too.


Part of the allure with ICHRAs involves the customizable nature of the platforms. ICHRAs can work in tandem with traditional group plans (as long as the same employees aren’t offered both) or as stand-alone benefits. In addition, companies can extend reimbursements to part-time staff, seasonal workers, and even temps if they choose. And reimbursement amounts can change based on budgets.


Every employee has a different household budget and varying healthcare needs. The ICHRA presents the most efficient and affordable way to meet those unique needs. Employees can be reimbursed for actual out-of-pocket expenses and avoid paying monthly premiums for services they don’t need or use.

Transition to Your ICHRA Before Open Enrollment

Timing is everything and if you’ve been on the fence about adopting an ICHRA for your business, now is a perfect time of year to get started. Before the new year, you can have an ICHRA set up and organized for your employees. And if you act quickly, Open Enrollment is just around the corner, too.

Open Enrollment for 2022

Health coverage Open Enrollment for 2022 is from November 1 through December 15, although some states are extending those weeks well into January 2022. So if you plan to bail on your traditional group health plan, now is a great time to set up your ICHRA. Your teams will then be able to browse and enroll via the Marketplace or W3LL and secure the health insurance coverage they need.

Setting up an ICHRA

When you’re ready to set up your ICHRA, you’ll want to sit down and carve out your budget for reimbursements. It’s important to develop a plan for which employee types will be eligible, as well as a guide for how you plan to introduce the ICHRA to your teams. Your processes for receipt submission and payment structure should also be determined.

Partnering with W3LL

You could take all the unnecessary guesswork out of ICHRA first steps by partnering with W3LL. We can help you from inception to implementation and beyond. Ensure your ICHRA offering is well-received and purposefully leveraged ongoing. And have an ICHRA expert in your corner to help manage the nuances and growth along the way.

The ICHRA has already been a game-changing offering for many companies this year. It can be the innovative way forward in terms of health insurance benefits options for your business, too. Let the W3LL professionals help you chart and navigate your path forward. Take advantage of the many ICHRA benefits and provide your employees with the real-life savings they need.


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