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Individual Coverage HRA

Why ICHRA | The Basics | How it Works | Before You Start | FAQ

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Health benefits your team will love, on a budget you control.

An Individual Coverage HRA (ICHRA) lets your business give employees tax-free dollars to buy the health plan that fits them best. You set a fixed monthly allowance, with no group plan renewals or surprise rate hikes. See what it would look like for your team in a few minutes.

Why choose ICHRA

Whether you have 2 employees or 200, an ICHRA gives you the control of a fixed budget and gives your team real choice.

Predictable Costs

You choose the monthly allowance. Your cost is capped, with no surprise renewal increases.

Tax
Advantages

Reimbursements are generally tax-free to employees and tax-deductible for your business.

Employee choice

Employees pick an individual plan with the doctors, network and price that fit their family.

Flexible by class

Set different allowances for classes such as full-time, part-time, or employees in different locations.

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What is an ICHRA?

An Individual Coverage Health Reimbursement Arrangement is an IRS-approved way for employers to reimburse employees, tax-free, for individual health insurance premiums and, if you choose, other qualified medical expenses.

Instead of picking one group plan for everyone, you set a monthly allowance. Employees choose an individual plan through Connect for Health Colorado or directly from an insurance carrier, and you reimburse them up to the amount you set.

Businesses of any size can offer an ICHRA, and there's no minimum or maximum allowance.

ICHRA
ICHRA

Your Cost

  • Fixed allowance you choose

Plan Choice

  • Each employee picks their own

Participation  Rules

  • None

Portability

  • Employee can keep their plan

Tax Treatment

  • Tax-Advantaged
Traditional Group Plan

Get your quote in three simple steps

1. Enter your employee census

Use our secure quoting tool to enter basic details for each employee. It takes just a few minutes.

2. Review your options

See individual plan options available to your team and model allowance amounts that fit your budget.

3. Launch your ICHRA

Boulder Chamber partners at MO Benefit Consultants help you set up the plan, onboard employees, and stay compliant.

Start My Quote

What you'll need

Have this information handy for each employee you want to include. An accurate census gives you the most accurate quote.

Your Checklist

  • Employee names
  • Dates of Birth (or ages)
  • Home Zip Codes
  • Coverage (Individual, Spouse, Family)
  • Business Name and Contact Info

Common Questions

Quotes are provided by MO Benefit Consultants, a Boulder Chamber partner. The quoting tool opens on an external site. This page is for general information only and is not tax or legal advice. ICHRA eligibility, tax treatment, and affordability rules are set by the IRS and may change; consult your tax advisor about your situation.