Simplifying benefits for everyone.

ICHRA

Individual Coverage Health Reimbursement Arrangement

From automated attestation and reimbursement to self-service options for employees, WEX simplifies ICHRAs for everyone. 

What Is An ICHRA?

An ICHRA (Individual Coverage Health Reimbursement Arrangement) allows all businesses, regardless of size, to reimburse or facilitate payment on behalf of employees for their health insurance, as well as other qualified healthcare expenses. ICHRAs are also tax-advantaged, exempt from both payroll taxes and income taxes. 

For Partners

For Employers

For Employees

Utilize our powerful platform (and optional servicing team) to expertly administer ICHRAs start to finish.

Customizable ICHRA offerings to meet the needs of every employer.

Easy-to-use solution for employees, with access via our mobile app even when they’re on-the-go.

ICHRAs from WEX

Our solution accommodates the setup and management of a custom ICHRA offering, collecting the attestation of coverage from employees, and the facilitation of payment for the premium -- everything partners, employers, and employees need from start to finish.

Offer personalized ICHRAs for every employer, no matter the size or budget.

With WEX, you can offer the flexibility for employers to custom design the benefit with different contribution allowances based on different classes of employees, employee age and family size.

Customize your benefit offerings to meet the needs of your clients (and prospects).

Our solution was built to support all account types, including HSA, FSA, HRA, commuter benefits, and new ones as they arise — such as the ICHRA. Whether your client benefit offerings are simple or robust, our solution can be easily customized to meet your needs (and the changing demands of the marketplace).

*Did you know? FSAs are ICHRA compatible and ICHRAs can be designed to be compatible with HSAs, too!

Streamline and simplify your payment + reimbursement solutions.

With WEX, you can offer carrier-direct payments, a debit card, mobile and online claim filing, receipt upload, and automated recurring (i.e, monthly) claims to meet a wide variety of needs in the marketplace … all in one platform.

Manage the administration of ICHRA… without the hassle on your end.

When you choose WEX, the administration (reporting, legal plan documents, etc.,) of your ICHRA plans can be handled by WEX or a team of trusted partners. That means you can spend less time running reports and more time growing your business.

Leverage robust integrations and best-in-class customer service.

With WEX, you get an innovative tech partner with your growth in mind, payment expertise, and industry-leading customer service support (for both you … and your customers).

The WEX Difference

WEX is committed to continuously investing in our product, giving you access to cutting-edge innovations that keep employers in compliance with ICHRA requirements, such as capturing attestation* from employees. 

Targeted Messaging

Paperless Attestation

Proactively present a message to ICHRA employees to encourage annual attestation, drive awareness, or link to a shopping option. 

Eliminate paper from the process and make it easy for employees to attest online (both annually and ongoing) with just a couple clicks.

Optional Debit Card Restrictions

Ultimate Visibility

Ensure you stay within the ICHRA requirements by automatically preventing employees from using their debit card for ICHRA expenses until after they provide annual attestation.

Because everything is online, employers can easily track what employees have (or have not) provided annual attestation to make sure they meet ICHRA requirements.

*Attestation is the process where employees must formally certify that they are participating in individual health coverage.

A Growing Opportunity

By 2024, nearly 11 million Americans are expected to participate in ICHRAs, according to projections by three federal departments.* Download your white paper to learn how: 

ICHRAs are an ideal solution for any-sized employer.


They bring predictability to your healthcare costs.


They reduce the cost of employee turnover.


How they bring flexibility and cost savings for employees.

*The Department of Labor (DOL), the Department of Health and Human Services (HHS) and the U.S. Treasury Department

Want More Information?

Check out the below resources. If you need more information or have questions, don’t hesitate to reach out.

ICHRAs from WEX 101

PDF

Benefits Buzz

Health Trends & Insights

Blog

Podcast

Download Your ICHRA White Paper

Complete the form below to claim your free ICHRA white paper and learn more about how ICHRAs are an ideal solution for any-sized employer, bring predictability to healthcare costs, reduce the cost of employer turnover, and bring flexibility and cost savings for employees.

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