Looking for a more flexible, budget-friendly alternative to traditional group health insurance? An ICHRA might be the perfect fit. At GSP Insurance Group, we help small and mid-sized businesses use Individual Coverage HRAs to offer health benefits on their own terms—without sacrificing quality or compliance.
What Is an ICHRA?
An Individual Coverage Health Reimbursement Arrangement (ICHRA) allows you to reimburse employees tax-free for health insurance they purchase on their own. You set the budget. Your team chooses the plan that fits them best.
Why employers love it:
– Predictable costs
– No need to manage a traditional group health plan
– Scales with your team as you grow
Why employees love it:
– Freedom to choose their own health plan
– Access to ACA-compliant coverage
– Tax-free reimbursements for premiums and medical expenses
Who Is It Right For?
ICHRA works especially well for:
– Small businesses that can’t afford a traditional group plan
– Companies with remote or multi-state employees
– Teams with a wide range of ages or coverage needs
– Employers looking for a simpler, more transparent benefits model
How GSP Makes It Easy:
ICHRA can feel overwhelming if you’re not familiar with the rules—but that’s where we come in. We help you:
– Design a compliant and effective ICHRA plan
– Set monthly budgets by employee class or role
– Guide your team through plan selection and onboarding
– Handle documentation, compliance, and ongoing support
A Long-Term Strategy, Not a One-Off Fix:
We don’t just set it and forget it. As your business changes, we’re here to help you refine and optimize your ICHRA strategy year after year—making sure it stays aligned with your goals and your people.