This webinar, "Tactical HRA Solutions: 3 Scenarios Explored," delves into three case studies showcasing how Health Reimbursement Arrangements (HRAs) were utilized to address complex benefits issues for different clients. The first scenario involved a university facing challenges due to striking faculty wanting healthcare coverage. Traditional group health plans weren't feasible due to budget constraints, leading to the implementation of an Individual Coverage Health Reimbursement Arrangement (ICHRA). By strategically classifying employees and utilizing ICHRA, the university could offer cost-effective healthcare solutions tailored to its budget and compliance needs.

The second scenario highlighted a company's response to employee feedback requesting better mental health and reproductive care coverage. By implementing a Group Coverage HRA or Standard HRA, the company could reimburse employees for these specialized services, regardless of network, providing flexibility and addressing the challenges of pre-existing provider relationships and limited coverage options. Customizing benefits within the HRA allowed for tailored solutions, such as reimbursement for IVF procedures and therapy sessions, meeting employee needs while controlling costs.

In the third scenario, a nonprofit organization faced significant health insurance cost increases, prompting a transition to a high-deductible plan. To mitigate the impact on employees, a Standard HRA was structured to reduce the deductible to previous levels, offering comprehensive coverage beyond the deductible. By leveraging the utilization-based model of the HRA, the organization could lower premiums while still providing valuable benefits, enhancing employee satisfaction and retention. Overall, the webinar emphasized the versatility and strategic use of HRAs to address diverse benefits challenges, highlighting opportunities for cost savings, customization, and employee-centric solutions in the evolving healthcare landscape.

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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.