The Rise in ICHRAs and QSEHRAs
In its 2nd year of reporting, the HRA Council’s 2023 HRA Data Report sheds light on an emerging solution that is revolutionizing the way employers offer healthcare benefits. Qualified Small Employer HRAs (QSEHRAs) and Individual Coverage HRAs (ICHRAs), have experienced a remarkable surge in popularity from 2022 to 2023. ICHRA offerings tripled in 2023 while QSEHRA offerings as a health benefit more than doubled between 2022 and 2023, highlighting the increasing prevalence of HRAs in employee benefit packages.
The report also highlights the positive impact of HRAs on the marketplace’s risk pool, particularly by enrolling younger workers. With 61% of ICHRA recipients being younger than 44, HRAs strengthen the risk pool and promote a healthier workforce.
HRAs have emerged as a game-changing tool for employers, as personalization and choice are highly valued in this era. By offering ICHRAs and QSEHRAs, employers empower their employees to select insurance plans that are tailored to their individual needs, giving them a sense of security.
Download the HRA Council’s 2023 HRA Data Report here to read more!
