At BenefitBuilder™ our goal is simple: to make the choice of health insurance as seamless and affordable as possible, making sure that you pick the option that best suits you and your family. But we know that when there are options, there are also questions. Our agents are glad to answer any questions that you may have. We’ve also included some frequently asked questions below.
How can I get individual health insurance coverage?
Call BenefitBuilder today at 1-833-284-5304 to discuss your insurance options and enroll in a plan. While you can get your own individual health insurance, shopping through BenefitBuilder will help ensure that you get coverage that qualifies you for reimbursement through your ICHRA. Contact BenefitBuilder if you need help picking a plan or determining if a plan qualifies you for reimbursements. We are ready to assist you with any questions you may have. Once enrolled in an insurance plan through BenefitBuilder you will automatically be enrolled in the HRA.
When can I enroll in individual health insurance coverage?
Generally, you can enroll in or change your individual health insurance coverage during the individual market’s annual open enrollment period from November 1 through December 15. If your ICHRA starts on January 1, you (and your dependents and/or spouse, if applicable), generally should enroll in individual health insurance coverage during open enrollment.
What’s a health reimbursement arrangement (HRA)?
An HRA is an employer-funded plan that reimburses you for your and your family’s individual health insurance premiums each month that you participate in the HRA. Only your employer can put money in an HRA, and you don’t pay taxes on money that comes from an HRA.
Can I contribute to an HRA?
No. All reimbursements given through the HRA are funded by your employer.
Do I have to take the HRA?
No. You may opt out of the HRA for yourself and your family members.
What happens if I opt out of the HRA?
If you opt out of the HRA, you won’t have access to employer stipends. You can still pursue individual coverage, and you may be eligible for federal subsidies. Your BenefitBuilder agent can help you determine your subsidy eligibility.
How do I get reimbursed?
Depending on the method your employer selected you may not need to request monthly reimbursement. In some cases, your employer can withhold your portion of the premium from your paycheck to combine with their monthly stipend. Payment is then submitted on your behalf to your insurance carrier. If required, you can submit premium payment documentation and reimbursement requests to BenefitBuilder on the Member Portal. Your reimbursement will come either via direct deposit or check based on your preference.