Which industries are a good fit to introduce an ICHRA program?

As the landscape of employee benefits continues to evolve, brokers play a pivotal role in connecting businesses with innovative solutions that cater to their specific needs. ICHRA can be a compelling option for employers seeking versatile and cost-effective healthcare benefits. To effectively promote ICHRA offerings, brokers can strategically target various client segments based on their unique requirements. 

ICHRA can be a good fit for a variety of industries and business types but may be particularly beneficial for certain industries and employee populations.

• Small businesses: ICHRA is a great option for small businesses that may not have the resources to offer traditional group health insurance.
• This includes startups companies that are looking for a flexible solution or that are offering benefits for the first time. 
• Employers with high employee turnover or employers with a mix of salaried, hourly, and seasonal workers.  Employee turnover can be a concern for certain businesses. Brokers can engage employers facing this challenge by highlighting ICHRA's portable nature. With ICHRA, employees can maintain their healthcare coverage. By reaching out to businesses with high employee turnover rates, brokers can demonstrate the long-term value of ICHRA. 
• Multi-location businesses: Employers with multiple locations may benefit from offering an ICHRA as it allows employees to purchase a plan that meets their needs based on their location. 
• Industries where ICHRA is generally a good fit include restaurants, hospitality, professional services, healthcare, landscaping, construction, and manufacturing. But really, any employer group could benefit from offering ICHRA. 

Talk to us to see if ICHRA is a good solution for your company, contact our HSA ICHRA Support Team at 781-228-2222, option 4, or email us at ichra@hsainsurance.com.