QSEHRA is a newer way for small businesses and non-profit organizations to offer healthcare coverage to their staff. A QSEHRA allows employers to set aside a certain amount of money each month to reimburse employees for healthcare expenses, whether insurance premiums or other medical expenses, and the reimbursements are available tax-free for everyone. This means employers can offer benefits without having to administer or pay the hefty costs associated with a traditional group health plan, and employees can choose a health plan that works best for their needs.
Many people are looking for ways to save money on healthcare coverage, and many employers are been struggling to provide sufficient, affordable options. With money savings and flexibility at the top of the priority list, ICHRA is likely to be the new healthcare buzzword of the hour. It may sound like just another acronym for the financially savvy, but an ICHRA could be the healthcare solution many have been looking for.