If you’re a total rewards leader who’s just hearing about an individual coverage health reimbursement arrangement (ICHRA), it’s likely because the option has only been around for the last five years.

It may also be because this type of benefit—which allows employers to offer pre-tax dollars so employees can purchase their own individual health plan, rather than elect coverage through a group plan—is not currently the predominant form of employer-sponsored healthcare. Just 4% of firms offering health benefits gave workers funds to purchase non-group health insurance in 2024, according to a KFF survey……………….