Individual
Coverage HRA
( ICHRA )

Individual
Coverage HRA
( ICHRA )

 

Individual
Coverage HRA
( ICHRA )

Individual Coverage HRA is a game-changer for employers
looking to provide health benefits to their employees. It
represents a new, more modern model of
employer-sponsored health insurance where you can
reimburse employees tax-free for individual health
insurance premiums and other medical expenses. ICHRA
(we pronounce it “ick-rah”) stands for “Individual Coverage
Health Reimbursement Arrangement” and is available for
employers to start using in January 2020.

Benefits of an ICHRA

Benefits of an ICHRA

1) Employer sets allowance caps, with no minimums or maximums, giving you total control
over your health benefit budget. *(rules apply to applicable large employers (ALEs).
2) No group health insurance plan annual rate hikes.
3) Customize benefit eligibility based on employee class, family status, or special group.
4) Employees choose from hundreds of coverage options that best fit their needs.

How an ICHRA works with Omega

How an ICHRA works with Omega

Choose Eligibility

Set the Allowance

Employees purchase
individual coverage

Employees confirm
purchase of coverage

Employees submit
proof of purchase

Employer’s review and approve
expenses for reimbursement

Choose Eligibility

Set the Allowance

Employees purchase
individual coverage

Employees confirm
purchase of coverage

Employees submit
proof of purchase

Employer’s review and approve
expenses for reimbursement

When you choose an ICHRA plan from Omega

When you choose an ICHRA plan from Omega

Latest Technology / Ease of Use
Licensed Health Benefit Consultants
Access to Additional Voluntary Benefits
Dedicated Customer Service
100% Compliance

“If you are an applicable large employer (ALE) trying to satisfy the employer mandate, then your
allowance amounts must be enough to make employees’ health insurance affordable.”

Corporate Headquarters
Omega Benefit
Strategies, Inc.
25 Depot Ave
Falmouth, MA 02541

Mailing Address
Omega Benefit
Strategies, Inc.
PO Box 1357 
Leominster, MA 01453

Phone Number:
508-986-9359

Email Address:
benefits@omegabfs.com