As an employer, how do i contribute to my employees?
The standard ICHRA calls for employees to purchase their own health insurance and apply for a reimbursement. We quickly realized that a standard ICHRA reimbursement model will not work for most employees. Most employees don't know what plan to purchase and don't want to layout funds each month and wait to be reimbursed.
Sooo, how much money gets pulled from your account? It depends what your employee premiums looks like. We did everything we can to mimic traditional group insurance as much as possible. Once the employee enrolls in a plan, the premium is paid for by the employer and the difference is deducted from the employee's paycheck, like any standard group insurance plan. The Big plan provides the employer with deduction reports and all the tools they need to manage their contributions effectively.