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.
14 Monument Square
Leominster, MA 01453
Hours Monday - Friday 8:30am - 5:00pm EST
Mailing Address
Omega Benefit
Strategies, Inc.
PO Box 1357
Leominster, MA 01453
Phone Number:
508-986-9359
Email Address:
benefits@omegabfs.com