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ICHRA can help employers save an average of 17% on healthcare costs while employees escape one-size-fits-all group coverage model
AUSTIN, Texas , Jan. 29, 2025 /PRNewswire/ -- Today eHealth, Inc. (Nasdaq: EHTH ), a leading online private health insurance marketplace, announced the launch of Iris by eHealth , an end-to-end Individual Coverage Health Reimbursement Account (ICHRA) solution for employers who want to support employee healthcare but struggle with the unpredictable costs of group health plans.
"Like a fingerprint, every person's iris is unique, and so are their health needs," said eHealth CEO Fran Soistman . "The conventional employer-sponsored model picks one plan for many employees. But one size doesn't fit all, or even most. With ICHRA, employers can potentially save an average of 17% 1 on healthcare costs while enabling employees to choose the right health plan for their personal needs. ICHRA is also a great way to address the healthcare needs of geographically dispersed, seasonal, or mixed part-time and full-time workforces."
Here's how Iris by eHealth works:
• The employer determines a flat monthly contribution to be made toward each employee's health coverage
• Using eHealth's Iris platform, employees select their own plan from among top insurance companies in their area
• By adding their preferred doctors and prescriptions, they can narrow down their choices to those best suited to their personal needs
• eHealth's proven customer care team manages enrollments and provides direct support to employees
• Once enrolled, the employer's monthly contribution funds some, or all, of the employee's health insurance premiums
Employers using eHealth for ICHRA solutions have praised "the cost savings for both our employees and our bottom line," and appreciated how it "allows our employees to shop the individual market and choose a plan from various carriers, greatly increasing their plan options." They've also praised the support eHealth provides: "You continue to be an invaluable resource since the transition to ICHRA, taking the time to answer all of our follow-up questions in a very timely and precise manner."
There are no plan markups or hidden fees with Iris. eHealth's licensed agents are available nationwide by phone or chat to help employers and their employees find the coverage they need, with a free annual review of plan options.
To learn more about Iris, visit eHealth's new Iris website .
Notes:
1 Based on an eHealth analysis of third-party data on individual rates compared to traditional group plan rates in OH, MN, GA, KY, IN & FL.
About eHealth (NASDAQ: EHTH ) We're Matchmakers. For over 25 years, eHealth has helped millions of Americans find the healthcare coverage that fits their needs at a price they can afford. As a leading independent licensed insurance agency and advisor, eHealth offers access to over 180 health insurers, including national and regional companies.
For more information about eHealth, visit ehealth.com or follow us on LinkedIn , Facebook , Instagram , and X . Open positions can be found on our career page .
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SOURCE eHealth, Inc.