The ICHRA – Individual Contribution Health Reimbursement Account – has saved Accurate Home Care employees over $150,000 in premium costs this year.
When Care Providers choose to work full-time at Accurate Home Care, they not only join a great company, but they also experience a cost savings on their Health Insurance. This is because Accurate Home Care is on the cutting edge of offering the best health insurance plans at the most affordable prices. We do this by offering the ICHRA.
The ICHRA is not a group health insurance plan. It is an individual health insurance plan that you choose. Accurate Home Care covers 80% of your premium costs. With these individual plans, you have more control over which plan you choose, which means you have more control over which doctors are covered by your plan and the size of your deductable. And these individual plans are much less expensive than traditional group health insurance.
For example, in our current plan, we benchmark against a Silver Level plan with a $4,200 deductable – 80% HSA plan. For those age 30, the employee portion of the monthly premium costs will be ~$50/month. At age 40, ~$57/month and at age 55 ~$80/month. In 2019, our average COBRA rates for a single employee were over $500/month.
By working full-time at Accurate Home Care, you could save thousands of dollars in health insurance premium costs every year. if you’re currently paying, say, $350/month for your group health insurance, and assuming your ICHRA plan would be $75/month, then you’ll experience a monthly savings of $275/month or $3300/year. Simply by working here at Accurate, you could give yourself a ~$3300/year raise.
If you’d like to learn more about the ICHRA, please call me directly at 763-795-3794. I think you’ll be pleasantly surprised at why working here at Accurate Home Care makes sense for a growing number of Home Care Providers.
Bill English, CEO
Accurate Home Care