Which industries are a good fit for ICHRA?

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.

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. To effectively promote ICHRA offerings, brokers should strategically target these clients. 

• 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.  

• 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. You should understand the individual plan options for the states that employees are located in.
• 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, contact our HSA ICHRA Support Team at 781-228-2222, option 4, or email us at ichra@hsainsurance.com.