New report introduces the ICHRA ecosystem and profiles 12 vendors and solution providers
For all the power of the healthcare industry to digitize, customize, and provide products for prospective members, current health plan options are not resonating with certain pockets of the employer market. Individual coverage health reimbursement arrangements (ICHRAs) propose a different approach for employees to select and enroll in health plans.
In a new Impact Report, ICHRA Ecosystem: Market Overview and Prominent Providers, research and advisory firm Aite-Novarica Group introduces the ICHRA ecosystem of data providers, platforms, administrators, marketplaces, and payment processors. The report explores the potential of ICHRAs as alternatives to traditional group plans for benefits brokers and agents, health plans, benefit administration platforms, third-party benefits administrators (TPAs), employer groups, and payment processors. This report profiles the following vendors: Benefitbay, ECHO Health, Gravie, HealthSherpa, HRASimple, ICHRA Shop, Nexben, OneBridge, PeopleKeep, Savvy, Take Command, Vericred, and W3LL (Softheon).
“The time is ripe for a new, alternative form of healthcare coverage due to a solidifying corps of contract workers and gig economy participants,” said Inci Kaya, Strategic Advisor at Aite-Novarica Group and author of the new report. “ICHRAs should continue penetrating the small employer market as there is room for growth in that segment, with future growth depending on the ecosystem partners’ ability to permeate the larger employer market.”
About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.