Liferaft’s webinar "2023 HRA Year In Review: HRA Trends & Insights" provided a comprehensive overview of the Health Reimbursement Arrangement (HRA) landscape, focusing on observations, trends, challenges, and opportunities identified throughout the year. The discussion highlighted the growing momentum of HRAs, particularly the Individual Coverage HRA (ICHRA), which saw increased adoption among both small and large employers. Despite the significant progress, there remained notable gaps in understanding and adoption, particularly concerning change management, health insurance enrollment, and paperwork overload. The webinar underscored the importance of education and improved tools for distribution partners, benefit brokers, and PEOs to facilitate smoother transitions to HRAs for employers and employees alike.

Key challenges and opportunities were dissected throughout the webinar, providing valuable insights into the complexities of HRA adoption. Challenges such as health insurance enrollment friction, concerns over out-of-pocket maximums, and the need for customization and improvements in HRA tooling were highlighted. However, amidst these challenges, several opportunities emerged, including continued cost pressures in the group health insurance market, potential state-level incentives for HRA adoption, and the need for more customizable solutions tailored to diverse employer needs. The webinar emphasized the crucial role of distribution partners in guiding employers through the transition to HRAs, underscoring the importance of providing them with robust tools and support to navigate the evolving landscape effectively.

As Liferaft positions itself as a trusted partner in the HRA ecosystem, the webinar concluded with a commitment to enhancing platform capabilities to serve distribution partners and employers better. The upcoming whitepaper release focusing on health plan selection further underscores Liferaft's dedication to providing valuable insights and resources to aid stakeholders in making informed decisions regarding HRAs.

Our team knows the ins and outs of the health insurance marketplace and will guide you towards the solution that make the most sense for your business and your team. Come with questions! Our experts are happy to dig into the details to get you the clarity you need.

During the call, Liferaft will run a cost-benefit analysis on your company's current healthcare spending and show you different ways you can save—without sacrificing plan quality. After your consult, Liferaft will design a unique plan for your employee's health insurance, including suggested plans and accounts, plan policy documents, and the annual budget.