In order to lessen the pressure of calculating the affordability for every employee, the employer is allowed to take help of three secure harbors. This is mentioned in Notice 2018-88. They are- location, affordability and the calendar year.
Some Important dates:
- Expected date of arrival of ICHRA in the business is January 1, 2020.
- The employees who have got the qualification to take part in ICHRA program will be eligible for an enrollment period of thirty days to buy their personal health insurance.
- Yet, there are no particular criteria of notice to be a part of ICHRA program.
Since ICHRA doesn’t have any specific cap for company size. It is highly expected that this is going to be the most popular program among the HRA system. Even it will be more appreciated if compared to QSEHRA. Undoubtedly, ICHRA is going to be the most sustainable HRA benefit vertical in coming times because of its unique , one-size-all-fit features.
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