Ichra's With Lisa Collins

⁣Is ICHRA individualizing group benefits as promised?
With Lisa Collins, Principal ICHRA Advisor, ChoicePlus Benefit Advisors
LinkedIn: @ChoicePlus, lisa@choiceplusba.com


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For half a decade innovative health insurance agents have tried to get smart bosses to abandon self-funding for the Individual Coverage Health Reimbursement Arrangement (ICHRA), passed under President Trump’s first term to replace group health plans with money employees could use to buy their own health plan. Ms. Collins makes one of a handful of such advisors cajoling employers to make this switch. Why is it important to discuss on a health innovators show like Freedom Hub?

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Because ICHRA was designed to enable the revolution for personalized care, and by doing so lower overall health costs that are bankrupting the country. It was thought at ICHRA’s inception that giving workers only one health plan necessarily hurts certain employees for whom the single option was insufficient. And, by generating insurer competition for the
business of the worker, somehow this market dynamic would lower overall market costs in the health sector. Perhaps most importantly, ICHRA rescues the boss from any risk from catastrophic health expenses suffered by workers who succumb to cancer or heart disease - risk that would be absorbed if the benefits are “self-funded”. Have ICHRA’s goals been achieved?


Critics of ICHRA state that they merely have replaced innovative group plans with lousy Affordable Care Act (ACA) exchange offerings saddled with narrow networks, adversarial claims resistance and ever-higher Out of Pocket exposure. Some of Freedom Hub’s favorite agents agree with this criticism, and thus have used ICHRA to insert superior, Medical Cost Sharing into corporate benefit offerings. Sharing enables the cash market that includes
virtually every doctor and hospital that offers a cash price - and experts acknowledge that without disgorging opaque pricing from the cartel, it never will be reformed. Under this ICHRA-Sharing combo, ACA plans then would be reserved to the sicker workers for whom the Sharing pre-existing condition phase-in presents too great a risk.