Defined contribution has a whole new meaning
Individual Coverage Health Reimbursement Arrangements, or ICHRAs for short, are a new solution for employers looking to offer healthcare benefits without the complexity and funding risks of traditional group coverage.
Why MyChoiceTM Accounts?
Our platform provides all of the resources required for the successful administration of an ICHRA program. We designed our infrastructure to flexibly adapt to new account designs, removing the need for manual processes that often exist with legacy platforms.
Putting ICHRAs to Work
ICHRAs are funded by the employer and allow employees to purchase individual health coverage. Employers can vary contribution rates by groups to ensure employees get the coverage they need. Businessolver offers a fully integrated marketplace, MyChoice Market, for employees to purchase their individual coverage. This means, once the account is funded, the employee has access to coverage options from one fully integrated solution. Our communication and enrollment platforms make it easy for employees to understand changes, reducing their stress and saving you time and money.