ICHRA solves group rate increases
An 80-employee healthcare company was shocked by a 67% increase on their group premium. The employee population varied widely by age and, with the employer’s generous coverage offerings, there were a large number of dependents covered by their policy. Using Benefitbay to model their ICHRA options, this company was able to keep their cost at the same level as the previous year while increasing the contribution amount available for family coverage. A true ICHRA success story, Benefitbay delivered $630,000 in savings below the renewal price of their group policy while decreasing the average cost employees paid for personalized family coverage.