Health Reimbursement Account

Willis Towers Watson introduces suite of services in support of ICHRAs — individual coverage health reimbursement arrangements

Retrieved on: 
Tuesday, February 4, 2020
Economy, Service industries, Finance, Corporate taxation in the United States, Employee compensation in the United States, Health Reimbursement Account, Healthcare in the United States, Willis Towers Watson, Insurance, Towers Watson, Willis Group, Health insurance

Since 2006, Willis Towers Watson has partnered with over 100 health insurance carriers, guiding millions of people to find and enroll in individual health insurance coverage.

Key Points: 
  • Since 2006, Willis Towers Watson has partnered with over 100 health insurance carriers, guiding millions of people to find and enroll in individual health insurance coverage.
  • Since the final health reimbursement arrangement (HRA) rule last June, companies were given a potentially game-changing way to provide health care coverage to their populations that could become the 401(k) of health insurance, said John Barkett, senior director, Policy Affairs, Willis Towers Watson.
  • Willis Towers Watson helps employers decide if an ICHRA is right for their organization by:
    In addition, Willis Towers Watson provides employer subsidy management through HRA administration, while helping employers comply with new ICHRA reporting requirements.
  • With health plan selection now in the hands of employees, Willis Towers Watson also provides employers with configurable communications to ensure their employees are well prepared for the transition from group coverage to individual health insurance.

IdeaCrew Delivers HRA Tool for State-Based Exchanges

Retrieved on: 
Wednesday, December 18, 2019
Taxation in the United States, Employee compensation in the United States, Healthcare in the United States, Corporate taxation in the United States, Health Reimbursement Account, HRA, Patient Protection and Affordable Care Act, United States federal legislation

The HRA Tool enables employees who are offered an employer-funded Health Reimbursement Arrangement (called an "HRA") to determine whether the HRA constitutes "affordable" coverage under the Affordable Care Act (ACA).

Key Points: 
  • The HRA Tool enables employees who are offered an employer-funded Health Reimbursement Arrangement (called an "HRA") to determine whether the HRA constitutes "affordable" coverage under the Affordable Care Act (ACA).
  • Without the tool, they run the risk of having to pay back thousands of dollars in tax credits they shouldn't have received.
  • "IdeaCrew is committed to finding creative ways to help customers navigate the complexities of the healthcare system," said IdeaCrew CEO Dan Thomas.
  • The HRA Tool is suitable for SBEs, brokers and any organization that wants to calculate HRA affordability.

HRA Administration Company, Clarity Benefit Solutions, Discusses New HRA Laws Going into Effect

Retrieved on: 
Tuesday, November 19, 2019
Economy, Finance, Money, Employee compensation in the United States, Healthcare in the United States, Health insurance, Employee benefits, Insurance, Health Reimbursement Account

NEW YORK, Nov. 19, 2019 /PRNewswire/ -- HRA administration company, Clarity Benefit Solutions, discusses new HRA laws going into effect.

Key Points: 
  • NEW YORK, Nov. 19, 2019 /PRNewswire/ -- HRA administration company, Clarity Benefit Solutions, discusses new HRA laws going into effect.
  • The recently issued HRA laws will now give employers a new method to pay for their employees' medical coverage, allowing them to utilize pre-tax dollars to subsidize employees' health insurance premiums.
  • Employers can now provide their employees with either an ICHRA or a traditional group health plan because of these new laws.
  • About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward.

Individual Coverage HRAs promote healthcare choice and competition and make it easier to offer valued benefit

Retrieved on: 
Tuesday, November 12, 2019
Employee compensation in the United States, Healthcare in the United States, Corporate taxation in the United States, Health Reimbursement Account, Expense, Articles, Economy, Tax, Consumer-driven healthcare, Flexible spending account

Beginning January 1, 2020, employers who have multiple employees can offer an Individual Coverage Health Reimbursement Arrangement (ICHRA) to employees to reimburse individual insurance premiums and out-of-pocket medical expenses.

Key Points: 
  • Beginning January 1, 2020, employers who have multiple employees can offer an Individual Coverage Health Reimbursement Arrangement (ICHRA) to employees to reimburse individual insurance premiums and out-of-pocket medical expenses.
  • This order was issued by President Trump in 2017 to expand the availability and use of Health Reimbursement Arrangements (HRAs) and promote healthcare choice and competition.
  • HRAs are employer-sponsored and -funded health plans used to reimburse employees for medical expenses on a tax-free basis.
  • It's estimated this expansion of HRAs will benefit approximately 800,000 employers.

DataPath employee engagement program earns gold award for HRA video

Retrieved on: 
Thursday, November 7, 2019
Corporate taxation in the United States, Employee compensation in the United States, Health Reimbursement Account, Healthcare in the United States, Marcom, Employee benefits, Datapath, Articles

LITTLE ROCK,Ark., Nov. 7, 2019 /PRNewswire/ -- DataPath, Inc., a leading technology solutions provider in the employer-sponsored benefits industry, announced today that its employee education and engagement program, The Adventures of Captain Contributor, has received a 2019 MarCom Gold Award.

Key Points: 
  • LITTLE ROCK,Ark., Nov. 7, 2019 /PRNewswire/ -- DataPath, Inc., a leading technology solutions provider in the employer-sponsored benefits industry, announced today that its employee education and engagement program, The Adventures of Captain Contributor, has received a 2019 MarCom Gold Award.
  • The video was released in September 2019 along with a new HRA comic book and update to the program's website.
  • "HRAs have become increasingly important in today's benefits market due to recent government actions that have expanded HRA plan types," says DataPath chief marketing officer, Bo Armstrong.
  • This is the second time DataPath has received a MarCom Award for its employee engagement program.

Gravie announces a new ICHRA solution for businesses following new 2020 regulations that allow for company-funded, tax-advantaged contributions to individual HRA plans

Retrieved on: 
Friday, October 11, 2019
Healthcare in the United States, Employee compensation in the United States, Taxation in the United States, Health in the United States, Articles, Employee benefits, Health insurance, 111th United States Congress, Health Reimbursement Account, Health insurance in the United States

Starting Jan. 1, 2020, employers of all sizes can take advantage of the new ICHRA regulations allowing them to use tax-advantaged dollars to subsidize employees' premiums in the individual health insurance market.

Key Points: 
  • Starting Jan. 1, 2020, employers of all sizes can take advantage of the new ICHRA regulations allowing them to use tax-advantaged dollars to subsidize employees' premiums in the individual health insurance market.
  • Through an ICHRA with Gravie, the employer determines their benefits budget and how much money they want to contribute to each employee to purchase health benefits.
  • Employees use the money from their ICHRA to put towards the cost of purchasing individual health plans through Gravie's marketplace.
  • Gravie has served over 900 employers and over 62,000 individuals across the U.S. To learn more visit www.gravie.com .

Take Command Health launches industry-first ICHRA platform

Retrieved on: 
Thursday, October 3, 2019
Economy, Finance, Service industries, Healthcare reform in the United States, CGI Group, Health insurance marketplace, Health insurance, Employee benefits, Insurance, Health Reimbursement Account, Self-funded health care

ICHRA, with its unlimited reimbursement rates and custom class options, represents a new way for employers to provide health benefits.

Key Points: 
  • ICHRA, with its unlimited reimbursement rates and custom class options, represents a new way for employers to provide health benefits.
  • "HHS estimates up to 11 million employees could be using ICHRA in the next few years; we think it could be much higher," shares Take Command Health CEO, Jack Hooper.
  • Take Command Health is the only HRA solution to also provide a private insurance exchange, allowing employees to review and compare individual plans that will work with their ICHRA.
  • Take Command Health launched five years ago with the goal of bringing awareness, advocacy, and transparency to the confusing world of health insurance.

DataPath releases new HRA materials for award-winning employee engagement program

Retrieved on: 
Tuesday, September 24, 2019
Employee compensation in the United States, Healthcare in the United States, Corporate taxation in the United States, Health Reimbursement Account, HRAS, Employee benefits, Articles, Business, Economy

The superheroes discuss several different types of HRAs including Individual Coverage HRAs, Excepted Benefits HRAs, and Qualified Small Employer HRAs.

Key Points: 
  • The superheroes discuss several different types of HRAs including Individual Coverage HRAs, Excepted Benefits HRAs, and Qualified Small Employer HRAs.
  • "These HRA materials are timely, especially with the release of new HRA rules from the IRS in June," says Bo Armstrong , Chief Marketing Officer at DataPath.
  • It has also been featured in industry publications such as Plan Sponsor, BenefitsPro, Employee Benefit Adviser, ThinkAdvisor, and Employee Benefit News.
  • About DataPath: Founded in 1984, DataPath is the longest running software company in the consumer directed healthcare industry.

Wellsource Extends Industry Leadership, Educates Wellness Professionals Regarding Tools to Create Healthier Populations

Retrieved on: 
Tuesday, September 24, 2019
Articles, Contents, Health promotion, Health risk, Health risk assessment, Determinants of health, Public health, Health Reimbursement Account, Health, HRAS, Social determinants of health

Attendees will learn how to use self-reported HRA data to better understand how to effectively engage populations into healthier activities.

Key Points: 
  • Attendees will learn how to use self-reported HRA data to better understand how to effectively engage populations into healthier activities.
  • The data collected in HRAs give health and wellness professionals a better understanding of their population's demographics, including social determinants of health, habits, and readiness to change.
  • Wellsource Inc. has been a premier provider of evidence-based health risk assessments (HRAs) and self-management tools for four decades.
  • For more information about Wellsource products, please visit www.wellsource.com or connect with Wellsource at [email protected] .

PeopleKeep Expands Benefits Platform with Individual Coverage Health Reimbursement Arrangement Product

Retrieved on: 
Thursday, September 5, 2019
Employee compensation in the United States, Healthcare in the United States, Corporate taxation in the United States, Health Reimbursement Account, Economy, Health in the United States, Articles, Employee benefits, Reimbursement, Health insurance

SALT LAKE CITY, Sept. 5, 2019 /PRNewswire/ -- PeopleKeep ,the leader in personalized benefits for small businesses, is launching its highly anticipated individual coverage health reimbursement arrangement (ICHRA) product, available for purchase on September 26, 2019.

Key Points: 
  • SALT LAKE CITY, Sept. 5, 2019 /PRNewswire/ -- PeopleKeep ,the leader in personalized benefits for small businesses, is launching its highly anticipated individual coverage health reimbursement arrangement (ICHRA) product, available for purchase on September 26, 2019.
  • The ICHRA, created this summer through federal regulation, is a new way for employers to offer health benefits to employees.
  • In offering an ICHRA product, PeopleKeep will expand the flexibility and use of health reimbursement arrangements (HRAs) and other reimbursement plans to provide more employees with additional options to obtain health care coverage.
  • "As the original provider of automated health reimbursement arrangements, PeopleKeep is uniquely positioned to offer the new individual coverage HRA benefit.