57°F
weather icon Partly Cloudy

Employers can fund accounts that let individuals pick plans

Friday Health Plans, a health insurance carrier based in Denver that has joined the Nevada Health Link online marketplace, presents options for businesses of any size, including Individual Coverage Health Reimbursement Arrangement plans.

As an alternative to the traditional way of providing health insurance to employees, ICHRA allows any size employer to fund an account for each employee. Employees can then shop on the individual marketplace to buy a personal and portable health plan that works best for them.

Those interested in ICHRA plans are encouraged to connect with a certified agent, broker or certified enrollment counselor to navigate the application and eligibility process.

Since ICHRA passed into law in January 2020, research already shows a significant increase in interest and demand for ICHRA plans, especially as COVID-19 continues to affect businesses and households worldwide. Companies that offer ICHRA plans set costs in advance and know exactly what to expect each year, giving them more flexibility with how they spend their money and taking the stress out of providing employee health insurance.

Not only is ICHRA tax-free, it relieves businesses from managing the administration and insurance process, since ICHRA enables employees to independently find and purchase a health plan suitable for their needs. And if an employee leaves his employer for any reason, they are free to continue their ICHRA coverage since the plan is portable and isn’t directly tied to the company.

“Before ICHRA, many small businesses couldn’t afford the cost of comprehensive group plans, so they were either over-spending on insurance to cover their employees or not offering insurance altogether, leaving many individuals uninsured, a risk no one should ever have to take,” said Eddie Burkhart, Friday Health Plans director of sales for Nevada. “ICHRA has transformed the insurance landscape and couldn’t arrive at a more opportune time as more companies and consumers are looking to save money amid the pandemic.

“With a focus on freelancers, entrepreneurs, service industry workers and small businesses, our mission at Friday Health Plans is to offer straightforward, quality insurance without the nonsense. So when coupled with the simplicity and ease of ICHRA, it’s a perfect marriage of cost-friendly, wide-ranging coverage for our clients, giving them the freedom to choose a plan that truly meets their needs.”

Friday Health Plans offers many affordable insurance options for those in the gig economy, early retirees and others who do not get insurance from their employer. The company says it offers the lowest-priced on-exchange Bronze plans in Las Vegas and Reno and the lowest-priced on-exchange Silver plans in Las Vegas.

Friday Health Plans partners with the Hometown Health medical provider network across Nevada, so consumers can conveniently find a doctor or specialist to meet their needs.

In Southern Nevada, in-network hospitals include MountainView Hospital, Southern Hills Hospital and Medical Center, Sunrise Hospital and Medical Center, University Medical Center, Desert View Hospital and Mesa View Regional Hospital. There are more than 30 Quick Care locations, including CareNow Urgent Care, Goodnight Pediatrics Nevada, Healthcare Partners of Nevada and UMC Quick Care. Renown Health serves Northern Nevada with more than 30 locations throughout Reno, Sparks, Carson City, Fernley, Fallon and Silver Springs.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Sisolak unveils budget plan for 2021-23

Gov. Steve Sisolak on Tuesday released the summary of his executive budget for the 2021-2023 biennium, a budget which highlights the pain wrought by the pandemic.

Senior Menus

Pahrump Senior Center

Man dies after Highway 160 collision in Nye

A possible medical condition is believed to be the cause of a two-vehicle crash along the 900 block of Highway 160 on Wednesday, Jan. 13, just after 10 a.m., where one driver died.

Wild horses stroll through the Calvada Eye

On most mornings, Pahrump resident Joe Proenza enjoys a solitary, leisurely walk with his dog Oliver at the Calvada Eye, but just recently he had some additional company, in the form of wild horses at that location.

Belvada Hotel opens for business

What once was a dilapidated eyesore in the town of Tonopah is no more, with the historic Belvada building transformed into a brand new hotel that is now open and ready for business.

Nevada Guard will join law enforcement at inauguration

More than 200 Nevada National Guard soldiers and airmen are set to assist federal law enforcement in the days prior to and during the Jan. 20 inauguration of President-elect Joseph R. Biden Jr. in Washington, D.C.

House votes to impeach Trump for second time

The House of Representatives voted Wednesday to impeach President Donald Trump for a second time for inciting a violent mob to storm the Capitol and confront lawmakers — an insurrection that left five people dead.

Training offered for green industries online

As part of the Green Industry Continuing Education Series, University of Nevada, Reno Extension is offering a series of online, entry-level classes for those wishing to become nursery worker certified. The workshops will include topics important to green industry professionals, including landscapers, nursery workers and groundskeepers.