How to reduce health benefits costs with simple tax-advantaged Health Reimbursement Arrangements

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24 Jan

How to reduce health benefits costs with simple tax-advantaged Health Reimbursement Arrangements

How to reduce health benefits costs with simple tax-advantaged Health Reimbursement Arrangements

Wednesday, January 24, 2024 (12:00 AM) to Saturday, October 31, 2026 (10:59 PM)
1 PDCs
Provider: HR.com
Course Name: How to reduce health benefits costs with simple tax-advantaged Health Reimbursement Arrangements

Speaker: Courtney Warren and Kyle Estep
Program Type: Videoconferences, webcasts, audiocasts, podcasts, eBooks, self-directed E-Learning
Registration URL: http://www.hr.com

Email Details

Understand the concept of new tax-advantaged health plans, specifically the Individual Coverage HRA (ICHRA) and Qualified Small Employer (QSEHRA) Explore the eligibility requirements and limitations associated with implementing ICHRA and QSEHRA for small business clients Learn how to assess the benefits of implementing ICHRA and QSEHRA for small business clients Develop the ability to effectively communicate the advantages, implementation process Regulatory considerations of ICHRA and QSEHRA programs to small business clients

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Most HR professionals don’t go into HR because they want to become a health insurance expert. They chose this profession because they love helping people.  But the truth is many HR professionals are forced to spend lots of time wrestling with health insurance complexities. But the good news is today, there’s a new way of offering group health benefits through Health Reimbursement Arrangements (HRA) that can change the game for HR professionals. Wouldn’t it be great if HR professionals could…  Step away from the tedious and time-consuming tasks of administering group health plans  Let someone else battle renewal hikes and participation concerns associated with traditional group health insurance  Alleviate risks associated with answering employees’ confidential or personal plan-related questions, which can pose compliance and privacy concerns to HR managers  Individual Coverage HRAs (ICHRAs) and Qualified Small Employer HRAs (QSEHRAs) are new models of health benefits where employers reimburse employees for the plan of their choice, as well as qualified medical expenses, tax-free. They empower HR professionals to offer benefits that result in healthy employees and a healthy business, easing the tension between cost and quality inherent to group health insurance.  These HRAs offer pre-tax methods for reimbursing employees for health insurance premiums and medical expenses as an alternative to traditional group plans. With employer-sponsored healthcare the #1 benefit employees want from their employers and, with health insurance often the most expensive line item behind payroll, it’s time for the HR industry to understand these innovative benefits alternatives. Join us as we explore what they are and learn about early market trends and insights. Participants will leave understanding if their company is a good fit and how HRAs can transform their benefits strategy.