ICHRA is a great fit for the hotel industry
A 20-employee hospitality group in Georgia unlocked $4,500 in government subsidy for their employees with Benefitbay. They structured their plan so that hourly workers purchased a subsidized plan while higher compensated employees received a larger ICHRA contribution. Benefitbay has a unique modeling tool built into our platform that enabled this employer to reduce benefit costs and improve the quality of benefit options available to their employees across all income demographics.
ICHRA benefits for the real estate industry
A 14-employee real estate development firm in New York was able to offer employees a modern, personalized solution for their health benefits. The employer was able to maintain benefit costs during a time of unprecedented group rate increases, while enabling employees to shop for a health plan the met their specific family needs in each of their individual locations.
ICHRA solves group rate increases
An 80-employee healthcare company was shocked by a 67% increase on their group premium. The employee population varied widely by age and, with the employer’s generous coverage offerings, there were a large number of dependents covered by their policy. Using Benefitbay to model their ICHRA options, this company was able to keep their cost at the same level as the previous year while increasing the contribution amount available for family coverage. A true ICHRA success story, Benefitbay delivered $630,000 in savings below the renewal price of their group policy while decreasing the average cost employees paid for personalized family coverage.
