Delivering personalized benefits
to the modern workforce
Benefitbay® is the platform that partners choose to deliver personalized benefits.We empower individuals to make their own benefit decisions.
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The fastest-growing
benefit product on the market.
Benefitbay leverages a new modern approach to healthcare called ICHRA. With benefitbay®, ICHRA allows employees to purchase individual health plans while maintaining the tax advantages of a group insurance policy.
ICHRA madeeasy
Benefitbay® gives employees the purchasing power to buy the best benefits to meet their own specific needs. We’ve zeroed in on the key features of ICHRA and built a platform focused on simplicity, compliance, smooth deployment, savings, and support.
Group employees into approved classes, set budgets and strategically allocate contributions within minutes
Benefitbay’s® intuitive interface makes ICHRA administration hassle-free for employers and their employees
Employees are guided through straightforward shopping and enrollment, selecting individual health plans available to them
Our compliance standards have been rigorously tested, ensuring that ICHRA plans and model meet regulatory requirements and exceed employee expectations
Employees gain visibility into government subsidy dollars, potentially lowering costs for both employer and employee
Individual Coverage Health Reimbursement Arrangement
ICHRA (pronounced IK-RAH) is a new benefit product stemming from legislation passed in 2019. ICHRAs have quickly become the fastest growing form of employer health benefits in the US. They mark the beginning of the "Personalized Benefits" movement, which experts predict will soon overtake group benefits in much the same way pensions were replaced by the 401K. With ICHRAs, employees can enroll in an individual health plan that meets their own, highly specific needs, with the same financial support from their employer they enjoyed with a group plan. For employers, not only do ICHRAs remove the pressure of trying to select a group plan that works for everyone, but they also provide employers with a fixed, predictable, and often lower cost of providing health benefits for their team.
Ready to join us?
Benefitbay is designed with you in mind! We are an end-to-end ICHRA administration platform for insurance agents and their clients. We provide a comprehensive suite of tools for agents to offer an ICHRA solution for every client.
If you’re ready to model your ICHRA (it only takes a few minutes), click to schedule an introduction call with our team to discuss how benefitbay® and ICHRA are a fit for your team.