Who Benefits with an ICHRA?
Why ICHRA in the Michigan Market?
ICHRA is a viable option in Michigan for large cases with high renewals. It is not as much an option in the small market as the individual rates are so much higher than the ACA. Think ICHRA for ERS and self-funded groups who experience double digit rate increases year after year or for large populations of employees who may be transient or seasonal (i.e. staffing, hospitality firms).
BPI Partners with Sureco and The Cason Group for ICHRA
- BPI collects quoting information and leads the front-end consolation
- Sureco is the TPA in charge of quoting, processing and implementing ICHRA
- The Cason Group runs the enrollment and roll out including consulting with agent and group on a timeline
The employer benefits because they get to set their contribution and get out of the claims business. No more worrying about 25%+ renewals each year, no more worrying about how an employee’s health is going to impact the rates of your group, and no more trying to make sure you picked the best plan benefits to offer your employees. You simply set the defined contribution, and your employee uses that money to shop for the best plan that fits their needs.
Rather than choosing between a base and a buy-up option, employees will be able to consult with a licensed agent to find the best individual policy that is tailored to their needs
ICHRA With the Cason Group
Individual plans require an individual attention for each employee to ensure your group’s employees are enrolled in the right coverage, network, and premium that fits their needs and budget. Benefit Profiles Inc and The Cason Group can help construct a contribution strategy that wins, help the broker best communicate this new product to the employer, and provide 1 on 1 consultation with employees through their licensed and appointed in-house enrollment team.