News
5 min read

Venteur joins the Nashville Healthcare Council

Published on
Oct 7, 2024
Venteur joins the Nashville Healthcare Council
Blog
Author
Stacy Edgar

We're thrilled to announce that Venteur has officially joined the Nashville Healthcare Council.This partnership marks a significant milestone for us as we continue our mission to create a consumer-centric health insurance system our ICHRA solutions.

Nashville is widely recognized as America’s Healthcare City, and we’re excited to be part of such a vibrant and dynamic community. The city is home to more than 500 healthcare companies, including 17 publicly traded companies. The reach and impact of these companies is extraordinary. We look forward to learning from these organizations and to engaging fellow council members as co-creators in building the future of health insurance.

We're kicking off this journey by attending this year's Nashville Healthcare Sessions from October 7-9, 2024. Venteur CEO Stacy Edgar and Advisory Board Members Chuck Byrge and Stacy Mays will be in attendance. We look forward to meeting many of our fellow council members in person this week.

Thank you to the Nashville Healthcare Council for welcoming us. We are grateful for the support that you've already shown our team as we grow, innovate, and strive to make a positive impact on the healthcare landscape in Nashville and beyond!

FAQs

You got questions, we got answers!

We're here to help you make informed decisions on health insurance for you and your family. Check out our FAQs or contact us if you have any additional questions.

How does an ICHRA work?

ICHRA stands for Individual Coverage Health Reimbursement Arrangement (ICHRA). This health arrangement allows you to pick your own health insurance plan using your employer’s monthly tax-free allowance. These funds can be used to cover insurance premiums, including dental and vision, as well as qualified medical expenses.

What are the benefits of an ICHRA?

  • Your health plan belongs to you, and you can keep your health insurance if you leave your company. 
  • You get to choose from any qualified health plan on the market. Venteur can help you select a plan where your preferred doctors, providers, and prescriptions are covered.
  • If you choose a health plan that costs less than your employer contribution, the extra funds are added to Venteur’s Health Wallet, an account used to pay for qualified medical expenses.

What's the difference between an ICHRA and a Group Plan?

Group health insurance plans are purchased by companies and offered to their employees. Traditional group plans take a one-size-fits-all approach to healthcare, giving employees limited choice when it comes to their coverage options. Employer-sponsored ICHRAs give employees a tax-free allowance to pick any plan on the public exchange that meets their unique needs.

What is the Health Wallet and how can I use it?

1. What Your Health Wallet Balance Represents:

Your Health Wallet balance could be thought of as a measure of the medical expense reimbursements you're entitled to under your health insurance plan. It's essential to note that it isn't quite like a bank account with a set amount of accessible cash. Rather, consider it as a marker of what you're eligible to get reimbursed for as part of your ICHRA plan.

When you shop for insurance through the app, you will see a dollar amount that is available for out-of-pocket expenses. This amount is what gets contributed to your Health Wallet account for your use in reimbursements. However, depending on how your employer has setup the account, it may be available immediately or it may be available after every monthly invoice.

2. Your Health Wallet Account:

When your account is setup, there is a predetermined way on how your Health Wallet functions for your reimbursement funds. The first scenario is that there is money that has been set aside at the start of the period which can be used for your reimbursements. You may see the entire amount entitled to you is immediately available for medical expense reimbursements. It's like having a store of health benefits ready to be used when you need them.

3. Simplifying the Health Wallet Experience:

We're always striving to enhance your experience and are currently working on making the Health Wallet balance operate more like a pre-paid debit card. This shift aims to streamline the funding process further and allow you quicker and more direct access to your health reimbursements, leading to an even smoother journey for you.

Remember, whether your account shows the funds immediately or after every invoice, it doesn't affect the overall sum you're entitled to under your ICHRA plan; it merely affects the timing of when you will receive the reimbursements.

Your trust is important to us, and we're continually striving to make our services better for you. If you ever have questions about your Health Wallet or anything that would help make for a more understandable benefits experience with us, don't hesitate to reach out to our customer service team.

No items found.

Explore more related content

What is Venteur

Explore the best human-first Health Insurance platform

Icon: Workflows

Simple, personalized health benefits

Sign up in minutes, define your contribution, and let your employees choose the health plan that works right for them

Icon: Broker

Integrations to make everything run smoothly

We'll connect with your payroll and finance systems to make deductions and premium payments seamless

Icon: Marketplace

Easy onboarding and off-boarding

In just a few clicks, add your roster and make updates on the fly. We'll handle it from there.

Icon: communications

Venteur Certified Brokers to help your employees pick the right plan

Our trusted brokers ensure the best outcomes for employees and employers by unlocking health savings and providing unrivaled plan options.

Icon: AI

AI-powered plan recommendations to give you confidence while you shop

Backed by 30 years of healthcare data, Venteur’s AI helps employees compare and choose the best plan for their unique situation.

Icon: Rocket

Compliance and reporting because no-duh!

Venteur manages plan administration, reporting, and compliance so you can focus on growing your business.