eHealth, Inc.’s Post

Have you heard of ICHRA? If you are a business owner looking to provide health benefits to your employees, chances are you will.   The latest HRA Council report reinforces a trend we have been anticipating for years – more and more businesses are taking advantage of the tax benefits of Individual Coverage Health Reimbursement Arrangements (ICHRA).   This is a great option for both large and small businesses to provide health insurance benefits to their employees at a reduced cost to their bottom line.    How do we know this? Because our licensed advisors work closely with small and large businesses every day to match them with health plans that their employees love.    A few highlights from the report:   ·      ICHRA adoption grew 29% year over year from 2023 to 2024. ·      4 out of 5 businesses are renewing year over year. ·      200+ employee businesses are the fastest growing ICHRA cohort at +84%. If you are a small or even a large business owner and you are struggling to offer a health plan for your employees or just want to reduce your costs, ICHRA may be an option for you. As the HRA Council put it, ‘The future is ICHRA – and it’s starting now."

I’m thrilled to share some exciting news from MeditSimple! 🌟 One of the reasons why I founded MeditSimple was because my own health condition wasn’t covered by traditional insurers. Our new corporate packages are designed to fill these gaps, covering pre-existing conditions, chronic conditions, and mental health. With MeditSimple, employers can set spending caps to ensure their teams get the comprehensive care they need from top UK doctors and diagnostic centers. 🩺❤️ Let’s boost our team’s health, wellbeing, and productivity together. Check out our latest blog post to learn more. #EmployeeBenefits #HealthInsurance #MedicalInsurance #UKHealthcare #Employers #Benefits #MedicalCoverage #MeditSimple #HR #Health #Workplace #EmployeeAppreciation

Health care costs at work set to rise steeply in 2024 (Part 1 of 4) The cost of job-based health care coverage for 2024 is expected to rise at its fastest pace in years as inflation pervades insurance policies. Companies plan to shoulder most of the increase, but many workers could also feel the pinch in the form of higher premiums and out-of-pocket costs for care, benefits consultants say. Some companies may also limit the coverage in various ways to blunt the jump in cost. Workers will learn just how much more they’ll pay during their employers’ open enrollment period, which typically takes place at this time. This year, employees are shelling out an average of $6,575 for their share of the nearly $24,000 annual premium for a family policy and just over $1,400 for their share of the $8,435 annual cost of single coverage, according to KFF, formerly the Kaiser Family Foundation. Nearly 153 million Americans have job-based health insurance, the largest source of coverage by far, according to KFF. There are multiple reasons why health care costs are rising swiftly now, said Debbie Ashford, the North America chief actuary for Health Solutions at Aon, which pegs the increase at 8.5% for 2024, nearly double the rate for this year. Higher prices account for more than half of the jump. Though inflation hit its peak last year, the impact is often delayed in the health care sector because contracts between insurers and medical providers are usually locked in for several years. DAC’s Health Share Plan is a game changer for most. With lower cost and expanded coverage to make life easier for employers & employees. Streamline You Healthcare Decisions With Our Comprehensive Benefits Platform. Expert guidance to tailor the perfect Health Insurance, Health Sharing, or Government Exchange Plan for Business and Employees. Call 226-568-9395, speak directly to me Christopher. Or follow the link below for more information. https://lnkd.in/gxU8YER6

In our 'Corporate Spotlight' series of blog posts, MeditSimple highlights how its new corporate packages help employers bolster their healthcare benefit schemes to attract and retain talent in workplaces as well as enhance employee health 🫶🏽👩🏻💼💫 In our first blog post, we explore how traditional health insurance policies can be complemented to provide comprehensive medical care to employees, therefore boosting their wellbeing, productivity, and health. For example, pre-existing conditions, chronic conditions and mental health are often not included in corporate health insurance offerings. MeditSimple complements existing health insurance policies by providing organisations with the ability to set up a spending cap for their employees to access the comprehensive care that they need from leading UK doctors and diagnostic centres ❤️🩺 You can read more by clicking here: https://lnkd.in/e7dT6UVv #employeebenefits #healthinsurance #medicalinsurance #UKhealthcare #employers #benefits #medicalcoverage #meditsimple #employeeengagement #HR #benefits #health #workplace #employees #employeeappreciation #humanreasources

The Future of Employee Health Benefits: Controlling Costs, Automating Administration - https://lnkd.in/eeEgfE3K Understanding how to stay in the driver’s seat when it comes to managing costs can be confusing and even intimidating. Set aside what you’ve been taught about health insurance benefits and controlling costs. We can help! From Shenandoah Valley Group

🎉 Our latest QSEHRA Report has arrived! 🎉 It provides an inside look at how employers and employees utilize their QSEHRA benefits. The qualified small employer HRA (QSEHRA) is a cost-effective alternative to traditional group health insurance. If not for the QSEHRA, many employees would go without a health benefit. According to our findings, nearly 77% of employers surveyed didn't offer a health benefit before the QSHERA. Additional key findings from the report include the following: - Organizations offered an average monthly allowance of $431 in 2023. This is a 4.6% increase from 2022. 📈 - Roughly 42% of all reimbursements in 2023 were for premiums, with an average reimbursement amount of $249. See our press release: https://lnkd.in/dc4xkKne Download the 2024 QSEHRA Report to learn more: https://lnkd.in/dTgQJ9DC #HRA #QSEHRA #healthinsurance #pressrelease #healthcoverage

The Future of Employee Health Benefits: Controlling Costs, Automating Administration - https://lnkd.in/eNh8NHcH Understanding how to stay in the driver’s seat when it comes to managing costs can be confusing and even intimidating. Set aside what you’ve been taught about health insurance benefits and controlling costs. We can help! From Shenandoah Valley Group

Employer adoption of specialized accounts that they fund to help reimburse employees when they buy health insurance on their own is surging in 2024. The number of employers who offer individual coverage health reimbursement accounts grew 30% in 2024 from 2023, expanding a benefit that provides employers another option than purchasing group health plans for their employees. Uptake was even higher among firms with 50 or more full-time workers. What are the positives and the drawbacks of ICHRAs? https://lnkd.in/g5YkEzW9

Employer adoption of specialized accounts that they fund to help reimburse employees when they buy health insurance on their own is surging in 2024. The number of employers who offer individual coverage health reimbursement accounts grew 30% in 2024 from 2023, expanding a benefit that provides employers another option than purchasing group health plans for their employees. Uptake was even higher among firms with 50 or more full-time workers. What are the positives and the drawbacks of ICHRAs? https://lnkd.in/gpYdR5-y

Employer adoption of specialized accounts that they fund to help reimburse employees when they buy health insurance on their own is surging in 2024. The number of employers who offer individual coverage health reimbursement accounts grew 30% in 2024 from 2023, expanding a benefit that provides employers another option than purchasing group health plans for their employees. Uptake was even higher among firms with 50 or more full-time workers. What are the positives and the drawbacks of ICHRAs? https://lnkd.in/eacN49YB