Effective Jan 1, 2020 - Employers can contribute to an ICHRA tax free to the employee to purchase Individual Health Coverage

Beginning January 1, 2020, businesses of all sizes will have a new health benefits option: the individual coverage health reimbursement arrangement (ICHRA).With an ICHRA, businesses, nonprofits, churches, and other groups can reimburse employees tax-free for individual health insurance premiums and other medical expenses. 

An ICHRA allows businesses, nonprofits, churches, and other groups can reimburse employees tax-free for individual health insurance premiums and other medical expenses.

Read On:  https://blog.ifebp.org/index.php/hra-final-rule-ichra

Article Credit:
International Foundation of Employee Benefit Plans (June 27, 2019)