FOR AGENTS AND BROKERS |
ICHRA Exchange Setting Up an ICHRA |
The ICHRA Exchange, fully integrated into the INSXCloud platform, enables agents and brokers to seamlessly design, quote, and enroll ICHRA plans, and be the Agent of Record for those sales. With proposal tools, flexible administrator options, and centralized reporting, the platform helps you deliver a streamlined, modern ICHRA solution to your employer clients. |
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What are the key steps in the process? |
1. Review Current Benefits Strategy & Understand Goals |
Review your employer client’s benefit strategy to assess if an ICHRA aligns with their objectives, focusing on factors like cost predictability, employee choice and satisfaction, and administrative capacity. |
2. Design Benefit and Run Quotes |
You can generate individual on- or off-exchange quotes for the entire group at once. ICHRA Exchange enables you to compare prior group coverage employer costs with an ICHRA, evaluate different employer contribution scenarios and generate proposals. |
3. Select an ICHRA Administrator |
Assist your employer group with choosing an ICHRA administrator. ICHRA Exchange allows you to work with any ICHRA administrator, giving you flexibility to find the best fit for your client’s needs. |
4. Communicate the Change to Employees |
Review and agree on implementation, communication and employee education strategy and timeline with your employer client and ICHRA administrator. Work with your employer client to communicate the change and educate employees. |
5. Employees Enroll in Individual Health Plans |
Be the Agent of Record and enroll employees and dependents in individual health insurance and/or other coverage on INSXCloud, with the ability to also send quoting and enrollment links to participating employees. Send enrollment and other required data to employer group or ICHRA administrator. |
6. Finalize Details with Employer and ICHRA Administrator |
Work with your employer client and their ICHRA administrator to set up reimbursement and premium payment workflows. The employer is responsible for ensuring the plan complies with all applicable laws, regulations, and mandatory documentation or reporting requirements. |
