As part of our mission to promote education and awareness for health reimbursement arrangements and build upon HRAs to improve the stability and affordability of individual health coverage, industry and policy experts at the HRA Council publish regular commentary on the state of HRA legislation, adoption, and regulatory changes.
Our first September update is from HRA Advisor Brian Blase. In it, Brian provides highlights from a report shared by HRA Council Member People Keep, plus a regulatory update and a study on The Impact of the COVID-19 Pandemic and Recent Federal Policies on Small Business Health Insurance.
We provide this information for the benefit of our members in promoting and advocating for HRAs and to the general public for a better overall understanding of this health coverage innovation.
2021 ICHRA Report
HRA Council Member PeopleKeep has just published its 2021 ICHRA Report. In its report announcement, PeopleKeep writes that its goal with the report is to, “share unique customer data with year-over-year comparisons in allowance amounts, class sizes, expenses submitted and more, giving an inside perspective on how employers are using their ICHRA in 2021.”
The blog post and accompanying visual report touch on these highlights:
How much of a monthly allowance employers already using ICHRAs are offering their employees
How those employers with a premium-only account use their benefit compared to employers with a premium-plus account
How many employers are offering each type of account (premium-only vs. premium plus), and if applicable large employers (ALEs), who are eligible to offer an ICHRA under the Affordable Care Act, are more likely to offer a premium-only account than small and medium size businesses (SMBs)
How many classes employers choose to divide their employees into