Benefitbay is a platform for brokers, employers, and employees that enables quick and simple ICHRA deployment for companies of all sizes.
First available in January of 2020, ICHRA (pronounced ICK-RA), stands for Individual Coverage Health Reimbursement Arrangement. With ICHRA, employers can provide an allowance of tax free dollars to their employees who then use those dollars to shop for a health plan that meets their own specific needs. No more one-size-fits-all group package. Employers can provide wonderful health plans for their team, individually tailored to each person’s needs, with a fixed, predictable cost.