Mike Martens explains voluntary disruption today. This important concept is about enabling employees to pick the health insurance they prefer with payroll deduction benefits.
Between 2020 and 2022, businesses offering ICHRA escalated by three and a half times. In order to take full advantage of ICHRA (Individual Coverage Health Reimbursement Arrangement) and QSEHRA (Qualified Small Employer Health Reimbursement Arrangement), insurance producers and HR executives need to understand them. Attending conferences, listening to podcasts, and reaching out to companies like Take Command, are a huge help in ICHRA implementation and administration. By staying up to date on the latest developments, producers can provide clients with the best possible options.
The group health insurance market is in desperate need of disruption. By taking advantage of ICHRA and QSEHRA, employers and employees have more control over their health insurance benefits and have more choice in their coverage. It is up to insurance producers and HR executives to stay informed and take advantage of these opportunities in order to help clients stay healthy and stay profitable.
Three Takeaways
Quote
“Between 2020-2022, the number of people offering ICHRA went up by 3.5x.”
Resources
Contact Mike Martens: linkedin.com/in/firststaffbenefits
Contact Mike through email: mikem@firststaffbenefits.com