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A Guide To Getting The Most From Your Benefits Healthcare brokers are licensed professionals with knowledge and expertise in health insurance and benefits. To earn a health insurance license, individuals must pass several state-specific examinations. These exams test their knowledge of policies and provisions, insurance terminology, tax considerations on the federal and state level, differences between individual and group insurance plans, and health maintenance organizations (HMOs). Healthcare brokers do not offer or issue health insurance or work for a specific insurance carrier—they are advisors who have relationships with multiple insurance carriers to advise you on the right one for your …

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The qualified small employer health reimbursement arrangement (QSEHRA) and the individual coverage health reimbursement arrangement (ICHRA) are health benefit plans designed for small businesses. Both QSEHRA and ICHRA give employers the ability to set employee reimbursement allowances for health insurance policies and qualified medical expenses. It’s a win-win approach: employees receive a tremendous benefit, and small businesses can contain their healthcare expenditure. Differences between a QSEHRA and an ICHRA While both of these arrangements perform the same essential functions, their operating mechanisms are a bit different. These differences are also what defines their suitability to your business goals. Let’s take …

What are QSEHRA and ICHRAs? Understanding Health Benefit Plans for Small Business Read More »