HRAs for small business health insurance
There's nothing small about small business.
Easy, affordable health insurance for small business
- Insurance shopping guidance
- Ongoing employee support
- Easy-to-use admin dashboard
- HIPAA compliance needs
- Required IRS reporting
- ...and much more.
Design your small employer health insurance plan.
Our platform will guide you step-by-step through the designing process, asking you all the right questions and helping you create your health insurance plan.
How should I determine my budget?
You can set the budget however you please. Therefore, the right question is how much do you want to spend? Some employers contribute a few hundred dollars, while others offer a few thousand. You're in control. That's the power of your new HRA!
When should I start my HRA?
You should start your HRA whenever you want. Because both QSEHRA and ICHRA trigger what's called a Special Enrollment Period (SEP), you can offer your HRA as soon as next month* rather than waiting for Open Enrollment to begin.
If your employees already have qualifying health insurance, you can start your HRA as soon as today and your employees will be eligible for the entirety of this month’s allowance.
[*Though for larger employers we recommend at least 30 days to ensure the onboarding process is smooth.]
How should I design my HRA?
There's no wrong way to design your HRA. There are a few regulatory guidelines our software will ensure you follow, but the truth is you should design your HRA to fit your budget and health insurance needs. Connect with our team if you'd like to hear more about what businesses like yours are doing.
Which HRA is right for my company?
While both HRAs allow you to reimburse your employees tax-free for health insurance, the main differences revolve mostly around which employees you'd like to participate and how much you'd like to offer them.
How long will the setup process take?
Creating your HRA could take as little as a few minutes. If you already know which employees you'd like to participate, when you'd like your HRA to begin, and how much you'd like to contribute, our software can have you quickly done.
That said, if this is your first time designing an HRA, you'll probably have to make a few decisions along the way that require research or conversations with our team, so it's probably best to plan for a few days to set up.
Introduce your employee health benefits program.
When should I tell my employees?
While you can tell your employees about their new benefits at any time*, the IRS requires you to communicate the new solution within a specific timeframe. But don't worry, based on your start date, our team will ensure that you communicate when the time is right. Additionally, we'll help you explain the HRA to your employees.
[*We recommend that employers switching from a group plan to an HRA talk with our team to ensure the transition is as smooth as possible.]
How do my employees set up their account?
Once your HRA has been designed and your official plan documents are signed, we will begin communicating with your employees to guide them through setting up their accounts and beginning the onboarding process.
How do my employees shop for insurance?
We'll handle that too! While employees can purchase their qualified individual health insurance plans wherever they choose, the simplest way is to use our platform. During the shopping experience, your employees will not only see the plans in their area, they will also see which plans work best with your HRA and what their payment options are.
Depending on which plans they select, your employees could be enrolled in a plan and set up on our platform in one quick sitting.
What if they have questions I can’t answer?
We'll handle it. Our customer support team is dedicated to answering all the questions your employees have. Chat, email, phone–we're available to make this process enjoyable and positive for your employees all year long.
Enjoy your new small employer health benefits program.
How do I reimburse my employees?
Each month, your admin portal on our platform will provide you with a report giving you full visibility into how much you need to reimburse your employees. Many employers use this report to run reimbursements through their payroll software, while others use our AutoPay feature to automate the process*.
[*AutoPay not available with all insurance companies. The reimbursement process may vary based on how and where employees purchased insurance.]
How will I know if my employees actually buy insurance?
As part of the onboarding process, your employees will provide us with proof of coverage. Our team then verifies all submitted documents to ensure your employees are eligible for health insurance.
How will I know how much to reimburse my employees every month?
Our platform will provide you an overview dashboard where you can see and manage your HRA at any time. Each month, a report will be provided that shows you exactly how much to reimburse each employee. You will also be able to see previous reimbursements.
What happens if the number of my employees change?
Our platform will provide you an overview dashboard where you can see and manage your HRA at any time. You'll be able to add or remove employees as the number of your employees fluctuates throughout the year.
What if I have questions?
Your employees won't be the only ones with questions throughout the year. While your employees will love our customer support team, we've built a team for you. Our client success team is dedicated to helping you and all your needs. Rest easy, we've got you covered.
