2022 ICHRA Options And QSEHRA Plans For Small Businesses Are Saving Employers More Money Than Traditional Group Plans. BenaVest And HRA Options Cast Light on New Strategic Tax Credit Employee Benefits

BenaVest is partnering with HRA Options in 2022 to help bring forth new and improved ICHRA and QSEHRA small business options combined with strategic health planning service options to the market to help employers maximize all health planning benefits. BenaVest is a nationwide health, life, and retirement insurance agency specializing in health insurance, particularly group health plans and ACA plans, also known as Obamacare. HRA Options is a brand with expert knowledge dedicated to creating and facilitating HRA planning for small businesses, corporations, and organizations. HRA Options evaluates companies and helps them find the best HRA plan type for their circumstances. In contrast, BenaVest evaluates all key health plan savings options and implements the enrollment of all plans.

The Partnership

This new partnership will help small, medium, and large businesses sign up and implement the most beneficial HRA option. Whether it is QSEHRA plans, ICHRA plans, or GCHRA health plans, companies can save money and offer more customizable health benefits for their employees, potentially saving both companies and the employees on health care costs. ICHRA has become the top choice HRA because it is the most customizable, with more benefits for both employees and employers. In most cases, the employee qualifies for a much higher tax credit, which lowers their monthly payments. BenaVest and HRA Options are training agents to educate employers on these new options available for their employee benefits package.

The Different HRA’s

The ICHRA option is an Individual Coverage Health Reimbursement Arrangement that helps employers take control of their employee benefits. It is a budget-friendly solution that will cover the employer mandate to offer health coverage. Great for small and medium-sized companies, BenaVest has seen the best ICHRA savings with companies within the range of two to twenty-five employees. ICHRA helps avoid certain drawbacks that standard group health plans have, such as annual rate hikes, contribution, and participation requirements. These plans are best for any size business that wants to offer a new health benefits program or needs a solution to their expensive group plan. Unlike offering an employee stipend allowance, offering a QSEHRA is completely tax-free for employers and tax-free to employees with minimum essential coverage (MEC). QSEHRA plans are best for small businesses with under 50 employees and no group health plan. It is an excellent starter benefit to help the business employees with healthcare costs. An employer that already has a group plan in place that works well for them can offer a GCHRA, a reimbursement added to the group coverage that essentially upgrades existing health benefits programs, keeping employees happy and enticing new qualified recruits.

HRA’s allow employers to save money on their health benefits plan compared to traditional group health insurance. Some of these HRA’s have tax benefits for employers and employees. While HRA Options help companies determine which HRA is best for their infrastructure, BenaVest helps implement the programs and helps employers find all group health plan saving options (including quoting a wide selection of group health plan options) and even enrolls the employees compliantly. A company working with BenaVest that had 16 employees was ready to implement employee benefits into their business. Their first instinct was to try a traditional group health plan, but they decided to take it entirely off the table after seeing how expensive it would be. The company then came across HSA’s as their next option, but they decided it was not a complete health benefit option for their company. Once they came across ICHRA, it made the most sense to implement. BenaVest helped them set up their ICHRA and rolled it out to the employees. It was a success, and they ended up saving $7,573.80 in annual taxes, which was a massive gain for the company. BenaVesst has saved companies anywhere from $5000 to over $100,000, depending on the number of employees.

To learn more about these HRA opportunities, see case studies, and get answers within minutes, please visit HRA Options.

Media Contact
Company Name: Benavest
Contact Person: Michael Argento
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City: Hollywood
State: FL
Country: United States
Website: https://hraoptions.com/