HRA... another expansion on the way?
We have written and shared extensively about the Individual Coverage Health Reimbursement Account (ICHRA) that became a legal and viable solution to pre-tax individual premiums in coordination with an employer contribution as of January 1st, 2020.
We believe this is the future of group health benefits.
Though now there is new legislation to introduce the ability to pay for direct primary care arrangements via an HRA (traditional, ICHRA, or other) that have been growing in popularity. These care arrangements are often not affiliated with a network, and more often referred to as concierge medicine. We see this as a positive for the ICHRA and it allows for even more ways for employees to use HRA dollars to find the care they need.
The complete text of proposed legislation here: https://bit.ly/FedReg85_FR_35398
Additional comments are expected on August 10th, 2020. We look forward to continuing to see the usage of HRA opened to more avenues for seeking care, as we feel a chief opportunity with the ICHRA is to give employees the freedom to seek and find the care that best suits their needs.