Best ICHRA Vendors: A Look At Popular ICHRA Administrators

Are you tired of high health insurance costs and plans that may not work for every employee? If so, the individual coverage health reimbursement arrangement (ICHRA) is the answer.

The ICHRA is a flexible way to provide health benefits for your employees while better managing your budget. But with so many administration vendors available, how do you know which one to choose?

In this article, we'll cover the top ICHRA vendors and explain what sets PeopleKeep and Remodel Health apart from the competition.

In this blog post, you'll learn the following:

• The benefits of working with an ICHRA provider.
• How to find a trustworthy ICHRA vendor.
• Why PeopleKeep is the best plan administrator for your small business.

What is the ICHRA?

The ICHRA is a popular solution for businesses that want to offer more personalized health benefits to employees. They provide cost control for employers and flexibility for employees. Instead of breaking the bank with a pricey group health plan, you can reimburse your eligible employees for the cost of their own individual health insurance plans.

With this employer-funded health benefit, you set a monthly allowance for your employees to use for their healthcare needs. Then, you reimburse them tax-free for more than 200 types of eligible medical expenses, including their health insurance premiums. There's no limit on employer contribution amounts, so you can offer your employees as much as you'd like. Plus, you can vary allowances and eligibility using 11 different classes of employees, such as full-time and part-time employees.

The ICHRA also gives employees more freedom. They can choose the medical plans that work best for them instead of getting stuck with traditional group benefits that they have no say over. Eligible employees need qualifying forms of individual health insurance coverage to participate in the ICHRA. They can purchase qualified plans on the Health Insurance Marketplace or from a private exchange.

Why do you need an ICHRA provider?

While it's possible to self-administer an ICHRA, it's a tricky process. It can also be time-consuming. If you want to save yourself stress, it's helpful to work with an ICHRA provider.

An ICHRA administrator provides software and services that help you and your employees use an ICHRA. They do all the heavy lifting for you, making ICHRA administration a breeze.

Most ICHRA providers offer:

• Cloud-based access to your benefit
• Compliance expertise
• Customer support
• Custom plan design
• Streamlined enrollment processes
• Management of claims for reimbursement

Plus, the health benefits landscape is always evolving. An ICHRA provider can keep you informed about new regulations and market trends. This can help your business adapt as needed.

How do you find an ICHRA provider?

With so many ICHRA providers to choose from, it's easy to feel overwhelmed by the choices.

To find the best fit for your organization, follow these five steps:

1. Understand your needs: Consider employee demographics and your health benefits budget.
2. Define what you need from an ICHRA provider: What features are most important to you? Do you want user-friendly technology? What administrative tasks do you want your ICHRA provider to handle?
3. Research potential providers: Search online for ICHRA administration platforms and read reviews or ratings from other businesses. Look for providers with established experience in administering ICHRAs.
4. Evaluate cost and value: Compare pricing structures and find out what each vendor includes in their fees, like the initial cost for setup.
5. Schedule consultations: Reach out to the ICRHA providers you're interested in and schedule consultations. Use this opportunity to ask further questions and gauge their responsiveness and expertise. See if the providers offer software demos so you can see the platform in action.

After gathering all this information, you can compare the providers based on their offerings, costs, and how well they align with your needs.

What are the popular ICHRA providers?

We've compiled a list of the top ICHRA providers to give you a head start on your search.

Here are six of the most popular ICHRA vendors:

1. PeopleKeep: Whether you're a small business owner looking for your first health benefit or a midsize employer aiming to enhance your benefits program, PeopleKeep has what you need. With PeopleKeep, you can offer an ICHRA, qualified small employer HRA (QSEHRA), or group coverage HRA (GCHRA). We were the first to bring an ICHRA solution to the market in 2019. Established in 2006 and now part of the Remodel Health family, we're dedicated to helping organizations like yours create a personalized benefits package that meets the needs of all your employees.
2. Remodel Health: Remodel Health, the number one ICHRA provider, is the parent company of PeopleKeep. Since 2015, Remodel Health has dedicated itself to assisting organizations in shifting from conventional group health insurance to innovative health benefits. They provide white-glove service through their ICHRA+ platform. Remodel Health also offers ICHRA+ Enterprise for employers with more than 500 employees. This cutting-edge solution gives even the largest employers unmatched control and flexibility in managing their health benefits.
3. Take Command: Since 2014, Take Command has provided HRA administration software to small and midsize employers. With Take Command, employers can offer a QSEHRA or an ICHRA.
4. Gravie: Gravie was founded in 2013. The company began offering an ICHRA administration platform when the benefit became available in 2020. The company also offers a level-funded health plan for small and midsize employers called Comfort.
5. Venteur: Founded in 2021, Venteur assists businesses ranging from small startups to larger enterprises in finding health benefits. They currently only offer an ICHRA.
6. Zorro: Zorro is one of the newest ICHRA vendors in the market. Founded in 2022, it offers a platform that allows employers to offer a QSEHRA or an ICHRA as a health benefit.

Why PeopleKeep and Remodel Health are the best ICHRA vendors for your business

Remodel Health is a trusted and accomplished company with years of expertise in the health benefits space. With the acquisition of PeopleKeep in 2024, Remodel Health has HRA solutions that work with your unique needs.

PeopleKeep’s ICHRA solutions for employers new to coverage and those with fewer than 50 full-time equivalent employees (FTEs)

If your organization is new to offering a health benefit or has fewer than FTEs, PeopleKeep’s ICHRA solutions are here to support you.

Here's a quick breakdown of PeopleKeep’s legacy:

• As the leader in HRA administration software for small businesses, we emerged in 2006 as Zane Benefits. The Zane HRA was an alternative to traditional group health insurance in the pre-Affordable Care Act (ACA) world.
• We were the first to offer a cloud-based QSEHRA administration platform following the passage of the 21st Century Cures Act in 2016. In 2019, we began to market our ICHRA administration platform after the federal government created the new benefit.
• We became a powerhouse in health benefits solutions for small businesses after Remodel Health acquired us in 2024.

Aside from our track record, our product speaks for itself. PeopleKeep stands out as the best ICHRA provider for small employers for several reasons:

• We offer an all-in-one, user-friendly platform that you can access from anywhere.
• We provide secure, cloud-based storage for claims data.
• You can customize your ICHRA design to your specific needs with our software.
• We provide award-winning customer support.
• We create your legal plan documents.
• You can easily offer a premium-only or premium-plus ICHRA.
• We review your employees' reimbursement requests for healthcare expenses for you. That way, you don’t need to be versed in eligible expenses and IRS rules.
• We send automatic notices to employees on your behalf.

Additionally, our innovative platform allows employees to shop for health insurance and ancillary benefits directly from their PeopleKeep dashboard. This empowers your employees to make informed decisions regarding their health coverage. There’s also the added benefit of in-house specialists available to assist them. If you already work with a health insurance broker, you can continue to do so and have them enroll your employees in policies.

By choosing PeopleKeep, you're not just picking an HRA administrator. You're partnering with a trusted expert dedicated to helping you enhance your employee benefits offerings and support the well-being of your workforce.

Remodel Health’s ICHRA solutions for large employers

Remodel Health kicks off 2025 as one of the fastest-growing companies in the market after securing $100 million to reshape the future of health benefits.

Remodel Health’s ICHRA+ offers personalized white-glove service from health benefits experts for employers and employees.

With Remodel Health’s ICHRA+ product, you can expect:

• Custom HRA and benefit design
• Employee shopping guidance
• Payroll implementation
• Reimbursement reporting
• Strategic team support
• Option for on-site education, quarterly and annual reviews

Conclusion

Don't let high healthcare costs stop you from offering employee health benefits. With the individual coverage health reimbursement arrangement (ICHRA), you can easily reimburse your employees tax-free for their individual health insurance premiums and other eligible medical expenses. However, choosing the right ICHRA vendor is crucial for ensuring your employees receive the best possible health benefits while also making the most of your company’s resources.

Partnering with PeopleKeep and Remodel Health gives you peace of mind. You can trust that you’re maximizing your investment while minimizing your administrative burden. Schedule a call with one of our HRA specialists to set up your ICHRA today!