Paramount offers innovative solutions to your employee health insurance needs. Small Business ACA, Section 125 or Individual Coverage Health Reimbursement Arrangement (ICHRA) are just some of the options that we can discuss with you.
There are many options available for a business to offer employees quality, ACA-compliant health insurance. Employers can start coverage any time of year and determine what plans to offer and how much to contribute toward employee premiums. Employees can select health and/or dental coverage for themselves and dependents and these choices do not need to be the same for everyone. Employer contributions to health care are usually tax deductible and tax credits are available for some businesses.
An Individual Health Reimbursement Arrangement (ICHRA) allows businesses to let each employee purchase health insurance that meets their specific needs. The business then reimburses employees a tax-free monthly allowance that applies to their purchase. These plans are ACA-compliant and very flexible, offering each employee freedom of choice for their health plan. An ICHRA often results in lower administrative costs and the plans are available to companies of any size.