Costs and Features of Administering an ICHRA with Take Command
Introduction
Individual Coverage Health Reimbursement Arrangements (ICHRAs) are a flexible, tax-advantaged way to reimburse employees for health insurance premiums and medical expenses. Take Command provides a range of services to administer ICHRAs effectively. Below is a breakdown of the costs and features associated with offering and managing an ICHRA using Take Command's platform.
Standard Pricing Breakdown
Monthly Costs
Per Employee Per Month (PEPM) Fee: - The base cost is $20 per eligible employee per month (PEPM) regardless of the organization's size or location. This applies to employees on the roster because eligibility tracking, required notices, and support services cover all employees, even those who may claim reimbursements retroactively.
Platform Fee: - There is an additional $40 monthly platform fee for access to Take Command's administrative tools and resources. This fee is fixed and applies universally to all organizations.
Optional Quarterly Compliance Checks: - An optional feature, quarterly compliance checks, is available for $2 per employee per month. Annual compliance support is included by default. Quarterly compliance checks are optional but provide added value for employers who want ongoing compliance reassurance.
Example Calculation
For an organization with 5 employees:
Total Monthly Fee = $40 platform fee + ($20 x 5 employees) = $140/month This flat pricing makes it easy for small businesses to budget for ICHRA administration. Employers also define the reimbursement budgets for health premiums and qualifying medical expenses.
Flexibility and Features
No Setup Fees: - Take Command does not charge any setup fees, making it easy for employers to begin offering ICHRAs without upfront costs.
No Long-Term Contracts: - Employers are not locked into long-term commitments, providing flexibility to adapt to changing business needs. Employees can also be added or removed at any time, ensuring alignment with the current workforce.
Regional Notes: Ohio-Specific Pricing
In Ohio, the cost per additional employee is $20 per month, identical to the standard PEPM rate. However, there are no additional platform fees or automatic payment charges specific to this region.
Summary
Take Command offers transparent and predictable pricing for administering ICHRAs. The $20 per employee per month fee and $40 monthly platform fee cover essential administrative functions and support. Optional features, such as quarterly compliance checks, provide additional value at a low cost. Flexible terms with no setup fees or long-term contracts make Take Command a user-friendly choice for employers of all sizes. Employers can choose to customize their reimbursement budgets and add compliance features based on their needs, ensuring a tailored approach to employee health benefits.