HealthSherpa Launches ICHRA Marketplace to Streamline Access to Individual Health Coverage

SACRAMENTO, Calif., Oct. 8, 2024 /PRNewswire/ -- HealthSherpa, the leading ACA health plan exchange handling over 50% of active Federal Marketplace enrollments for Plan Year 2024, announces the launch of the HealthSherpa ICHRA Marketplace. This new platform is designed to make it easy for everyone - including brokers, insurers, ICHRA administrators, TPAs and technology partners to seamlessly enroll employees in individual health plans.

The HealthSherpa ICHRA Marketplace is a on- and off-exchange quoting and enrollment platform that can be co-branded or white-labeled. "The ICHRA market has tremendous potential, and we are excited to offer the enrollment infrastructure needed for the market to succeed.", said George Kalogeropoulos, CEO of HealthSherpa.

HealthSherpa currently has off-exchange enrollment integrations with Ambetter, UnitedHealthcare, Cigna, Blue Cross Blue Shield of Arizona, BlueCross BlueShield of South Carolina, Molina and other leading carriers.

The ICHRA Marketplace is already live with select partners and will launch publicly in early 2025.

Key Features:

• Integrated Shopping & Enrollment: Starting with a custom intake screener, users are directed to on- or off-exchange enrollment based on their needs. Plan results show the ICHRA allowance so users can easily see their costs before choosing a plan and enrolling.
• Easy Broker-Assisted Process: HealthSherpa's platform, already used by over 48,000 FFM agents nationwide, now lets brokers seamlessly quote and enroll employees offered an ICHRA plan through their existing individual market enrollment workflow.
• Comprehensive Reporting: Access to full-book ICHRA and other individual market data and tagged enrollments to indicate employer affiliations for easy data management.
• Flexible Integration: Seamless integration with technology partners, client relationship management softwares, and ancillary sales tools via secure quoting and enrollment APIs.
• Fully Compliant: Designed from the ground up to comply with the complex array of federal and state laws and regulations that apply to ICHRA enrollment.

What Is ICHRA?

An Individual Coverage Health Reimbursement Arrangement (ICHRA) allows employers of any size to offer employees tax-free reimbursements for qualified health care spending — including ACA health plans — instead of traditional group coverage. ICHRA can cover individual plan premiums and qualified medical expenses, providing a flexible and personalized approach to health benefits.

For employers, ICHRA is a way to predict their overall spend, reduce their risk and simplify their benefits offerings.

Employees on ICHRA plans have access to more plan options, can keep their coverage even if they change jobs, and get Advanced Premium Tax Credits (APTC) where applicable.

About HealthSherpa

HealthSherpa is the largest and fastest-growing individual health coverage exchange in the United States, simplifying access to health plans from both federal and state marketplaces.

Our secure, integrated technology platform empowers insurance agents, agencies, and carriers to quickly and accurately serve and support individuals as they select and use quality, affordable health plans.

For more information, please visit info.HealthSherpa.com/ICHRA.

Insurers, agencies and technology providers interested in learning more about the HealthSherpa ICHRA Marketplace should contact [email protected].

For press inquiries, please contact [email protected].

SOURCE HealthSherpa