Finding the right ICHRA administrator

In order to effectively guide your clients, it is important for brokers to understand the complexities of Individual Coverage Health Reimbursement Arrangements (ICHRA). From finding the right administrator to managing enrollments and navigating affordability criteria, there are several key considerations to keep in mind.

When selecting an ICHRA administrator, brokers must ask targeted questions to ensure they meet the unique needs of their clients.

Here are some inquiries you should make:

Employer Group Size Classifications

• Determine the size of the employer group (small, mid-size, large), whether the administrator specializes in a specific group size and what the support will look like.
• Evaluate the need for online platforms for ICHRA administration, considering the geographical distribution of employees, especially those outside Massachusetts who cannot enroll through HSA Insurance.

Specific Services

• Identify the services needed, such as online enrollment platforms, support for out-of-state coverage, customization options, and ACA reporting assistance.
• Explore supplementary services like COBRA administration, Health Savings Accounts (HSAs), and Flexible Spending Accounts (FSAs).

Cost and Service Model

• Inquire about the cost per employee per month and whether it applies to all employees or only those opting in to the ICHRA.
• Clarify if there are annual or monthly broker implementation fees.
• Understand the extent of enrollment support provided and the communication strategy for members.
• Determine if COBRA administration, Medicare support, and ACA reporting assistance are included. See HSA Medicare Support for ICHRA, to learn more about how we can support you with Medicare.

Shopping and Enrollment Platform

• Ask if the administrator offers an online platform for managing contributions and enrollments, and ask what their shopping experience for individuals looks like.
• Understand the payment models offered and how payments are handled, including employee reimbursements or unique bank accounts for eligible employees.

HSA Insurance can facilitate meetings with ICHRA administrators. If you already have an existing relationship with an ICHRA administrator, please share their contact information with our ICHRA support team.

You can reach our HSA ICHRA Support Team at 781-228-2222, option 4 or email ichra@hsainsurance.com.