Individual Coverage Health Reimbursement Account (ICHRA)

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Give your employees the control and flexibility they need to combat the rising costs of healthcare.

The Individual Coverage Health Reimbursement Arrangement (ICHRA) allows employers to set aside tax-free money for employees to use on eligible healthcare purchases. Unlike a traditional HRA, an ICHRA allows for reimbursement of individual insurance premiums, and it works with individual insurance plans and Medicare.

An upside of ICHRA is its flexibility. Employers get to decide which employees are eligible and establish reimbursement limits. Employees enjoy the flexibility of purchasing the individual plan of their choosing.

How does it work?

  1. Employer establishes a reimbursement limit and qualified medical expenses
  2. Employees choose the health insurance plans they want
  3. Employees pay their premiums using an Ameriflex card, or
  4. They pay their premiums out of pocket and submit a claim form for reimbursement
  5. Employees get reimbursed for eligible claims paid out of pocket

Items to note:

  • Employers of any size are eligible to offer ICHRA
  • Employers cannot also offer a QSEHRA or EBHRA (It’s one or the other)
  • Employers cannot offer a traditional group plan and ICHRA to the same class of employees
  • Any class designations set employers must be fair across employee classes
Learn more about the ICHRA.

Multiple, easy-to-use options for access and account management of your employees’ HRA funds.

Quickly and conveniently pay for eligible expenses, without the hassle of filing a manual claim. With the MyAmeriflex Card, participants can access their HRA funds instantly when they swipe their card at eligible merchants. In most cases, this eliminates the hassle of having to verify the eligibility of an expense later on.

Convenience and award winning customer-service – right at your fingertips! With the MyAmeriflex Mobile App, participants can access their account from anywhere. Check balances, file a claim, or check on the status of a reimbursement, all from their mobile phone.

Account management just got easier. By logging into MyAmeriflex, participants can gain access to resources aimed at helping them maximize the value of their HRA plan. In addition to managing all aspects of their accounts, they can also access interactive how-to’s, spending calculators, and more.

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