Businessolver’s Individual Coverage HRA Solutions simplify administration of ICHRAs through MyChoice Accounts, handling plan design, enrollment, and reimbursements in one platform. ICHRAs, introduced in 2019, let employers fund accounts employees can use for individual health insurance premiums and medical expenses, offering flexibility beyond traditional group plans. Employees benefit from personalized coverage choices, regional flexibility, and 24/7 support from Sofia, plus faster claims and a single Visa card for multiple accounts. Employers gain defined contribution control, tax advantages, and reduced administrative burden with no vendor management or surprise premium increases.

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