ICHRA Research and Resources

ICHRA

Deductible

A predetermined or fixed amount that an employee pays out of pocket every calendar year. Once the member has paid the deductible, the plan begins reimbursing costs for healthcare expenses that are non-preventative.

HSA

A Health Savings Account allows employees with High Deductible Health Plans (HDHPs) to put money away and withdraw it tax free for qualified medical expenses, like deductibles, copayments, and coinsurance.

QLE

A Qualifying Life Event represents a significant life change, such as a change in marital status, children and dependents, or a family member’s benefits eligibility under another plan due to job loss or Medicare enrollment. 

HRA

This employer-sponsored benefit enables employers to reimburse their employees’ health insurance and out-of-pocket medical expenses by providing employees with a tax-free monthly allowance.

Coinsurance

After the health plan’s deductible has been paid, the percentage of costs for a covered healthcare service paid out of pocket is called coinsurance. It differs from a copay, which the plan member pays when they use a service.