The Rise of ICHRAs: A New Era in Health Benefit Solutions
With a growing emphasis on flexible, customized, and cost-efficient health benefit solutions, Individual Coverage Health Reimbursement Arrangements, commonly called ICHRAs, are gaining popularity. A new report by the HRA Council found that U.S. employers’ adoption of ICHRAs increased by 29% overall (and by a whopping 84% among ALEs alone) between 2023 and 2024. The Rise of ICHRAs ICHRAs debuted in 2020 as a significant departure from traditional group health plans. Instead of offering a uniform