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December 11, 2020

Minnesota-Based Company Experiences Triple-Digit Savings Moving to an ICHRA

Dawson McPherson
Dawson McPherson
Senior Content Marketing Specialist

The Challenge

A Minnesota-based company experienced a 49% rate increase in their fully insured medical plan in 2019. The plan called for a 28% increase in 2020. Another increase would not only hurt the company, but it would also increase their employees’ monthly costs. The numbers added up quickly:

The Plan

The company turned to their broker and Ameriflex to implement a plan that would lower their costs and protect their employees from another rate increase. An Individual Coverage HRA with Ameriflex was the ideal choice to meet the client’s needs and make the transition easy.

The Outcome

With great consulting work and support between the broker and Ameriflex team, the company was able to continue offering competitive benefits and saved $654,000 with the ICHRA in 2020. In addition, with Ameriflex as their administrator, the company has an assigned  Client Relationship Team they can rely on to answer questions and provide day-to-day support.

Interested in learning more about ICHRAs? Check out our Ultimate ICHRA Guide.

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