Definition

A relatively new (2020) HRA structure that lets employers reimburse employees for the cost of individual ACA marketplace coverage instead of offering a group plan. Must be offered to defined classes of employees on uniform terms.

For brokers

ICHRA is one of the fastest-growing market segments — small-business brokers serving 2–50 lives often pivot here when carriers tighten small-group underwriting.

Related in plan design

SBC

A standardized plain-language summary of what a health plan covers and what it costs.

SPD

The detailed legal document that describes how a self-funded ERISA health plan operates — eligibility, contributions, claims procedures, appeals, fiduciary roles.

RFP

A document an employer (or their broker) sends to carriers asking for medical / dental / vision / ancillary plan quotes for a renewal cycle.

Deductible

The dollar amount a plan member pays out-of-pocket each year before the plan starts paying for covered services.

Velora speaks the broker domain natively.

SIC, enrolled lives, renewal month, current carrier — every term in this glossary corresponds to a field Velora's outbound engine actually uses for targeting, segmentation, and cadence selection.

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