Your new health plan is formally known as an Individual Coverage Health Reimbursement Arrangement (ICHRA). This health arrangement allows you to pick your own health insurance plan using your employer’s monthly tax-free allowance. These funds can be used to cover insurance premiums, including dental and vision, as well as qualified medical expenses.
What are the benefits of an ICHRA?
- Your health plan belongs to you, and you can keep your health insurance if you leave your company.
- You get to choose from any health plan on the market. Venteur can help you select a plan where your preferred doctors, providers, and prescriptions are covered.
- If you choose a health plan that costs less than your employer contribution, the extra funds are added to Venteur’s Health Wallet, an account used to pay for qualified medical expenses.