Small Business Health Insurance Alternatives

Are you a small business looking for health insurance alternatives?

There are alternatives to providing a group health insurance plan for your employees. Some of them come with tax advantages. 

You have probably heard of a Health Reimbursement Arrangement (HRA) but did you know that there is more than one type of HRA? In fact, there are three:

Qualified Small Employer Health Reimbursement Arrangement (QSEHRA)

Individual Coverage HRA (ICHRA)

Excepted Benefit HRA (EBHRA)

The QSEHRA and the ICHRA are for those employers who do not want to offer insurance coverage but want to help take care of their employee’s insurance needs.

These types of HRA’s enable employers of any size to reimburse their employees tax-free for health insurance premiums and medical expenses. 

The EBHRA is for employers who offer traditional group health insurance but want to offer their employees some assistance with qualified medical expenses. This is particularly helpful for those who have high dollar deductibles. The high deductible helps to lower the monthly premium cost but it puts quite a burden on the employee. With an EBHRA the employer can reimburse employees for up to $1,800 a year in qualified medical expenses. 

Do any of these sound like something you might be interested in? Contact us for more information.

More Insights

What type of quote would you like?

Get started by choosing
the type of insurance that is right for you.