ICHRA Notices: What Employees Need to Know

POV: You’re an employee who has received Individual Coverage Health Reimbursement Arrangement (ICHRA) funding from their employer. You’ve just received an “ICHRA Notice.” Here’s what you need to know.

What is the ICHRA Notice?

To kick off Open enrollment, you’ll receive an official “ICHRA Notice.” This document, created by the U.S. Department of Health and Human Services (HHS), the U.S. Department of Labor (DOL), and the Internal Revenue Service (IRS), provides information on:

• What is an ICHRA & how does it work?
• The types of health plans eligible for ICHRA reimbursement: Qualified Health Plan or Medicare
• When and how to enroll into an individual health insurance plan
• Whether you qualify for Premium Tax Credits & how to claim them if you do
• Who to contact if you have questions about your ICHRA 

What Should You Do with the ICHRA Notice?

Take a moment to read the ICHRA Notice. No other action is required though we encourage you to keep this document for your records.

Your Health Insurance Carrier May Ask You for a Copy of Your ICHRA Notice

If you need to enroll in a health insurance plan outside the Annual Enrollment Period (November 1 to December 15), the ICHRA Notice will serve as proof that you qualify for a Special Enrollment Period. Most of the time, Venteur will submit this notice on your behalf, but there may be instances where your insurance carrier will contact you directly for this documentation. If that happens, be sure to respond promptly to avoid any issues with your coverage.

Need a Copy of the ICHRA Notice?

You can download your ICHRA Notice in the Document Center of your Venteur account.

Remember, our team at Venteur is here to support you. If you have any questions about the ICHRA Notice or the Open Enrollment process, don’t hesitate to reach out!