Episode Summary
Mike Smith recently interviewed Jack Hooper, CEO of Take Command Health, for an insightful discussion about the transformative new option for employee health benefits called individual coverage health reimbursement arrangements (ICHRAs). This innovative approach allows employers to reimburse workers for individual insurance plans rather than sponsoring traditional group coverage.
Timestamps
(0:00:06) - On this episode of the Broker link, I'm actually not hosting today
(0:00:30) - New federal law allows employers of any size to reimburse employees for individual insurance
(0:08:01) - Back in the 70s, defined pension plans gave way to 401 plans
(0:13:57) - Take command Health is working to help employers set up individual coverage HRA
(0:17:34) - The biggest reasons are managing risk and cost control
(0:20:38) - ICRA puts employees in the driver's seat for healthcare decisions
(0:23:35) - The perfect group is someone ready to jettison their group health plan
(0:31:24) - The government is projecting around 800,000 employers will offer individual coverage
(0:38:17) - Take command health is a new way to do insurance that they will never know
