Madison, WI (August 16, 2022) – In this time of evolving benefits, The ICHRA Shop and TASC (Total Administrative Services Corporation) have joined forces to make benefits feel like benefits. Through this partnership, employers will now be able to offer comprehensive benefits solutions that provide employers flexibility. ICHRA Shop’s insurance marketplace makes it easier to enable expansive health, dental, vision, and now flexible benefits that include offerings such as Individual Coverage Health Reimbursement Arrangement (ICHRA) and so much more.
Too often, the experience of signing up for and determining the appropriate benefits for a client can be difficult, frustrating and time-consuming because employers simply don’t know how to select which benefits that employees need and want. With TASC’s Universal Benefit Account®, Benefit Continuation Services like COBRA, and Compliance solutions like ERISA, HIPAA, FMLA, 5500s and more, ICHRA Shop adds secure and comprehensive benefit offerings to the ICHRA Shop Marketplace. This makes it easier to serve employers of any size with tax savings value, while providing diversity of offerings with a world-class customer experience for both employers and their employees.
“A comprehensive platform is the key to increasing flexibility in all aspects of benefits administration,” says Brad ONeill, President. “We are impressed with the more than 50 different benefits offerings that TASC’s Universal Benefit Account can provide our clients. The ability to integrate ICHRA with a variety of other benefits, including HSA’s is a gamechanger” “Providing employees the power of one card to shop for all their benefits, mixed with our digital decision supported enrollment allows employees to directly enroll into the carrier or the exchange. Our TASC partnership has instantly made the ICHRA experience better for our clients”
The importance of increasing engagement through benefit enhancement can’t be ignored. A study by the Workplace Research Foundation found that employees who are highly engaged are 38% more likely to offer their employers above-average productivity. A successful benefits program requires more than a strategic selection of the benefits themselves.
“With high demand for talented employees, employers need to differentiate to attract and retain the best employees. This means that employers need to offer flexibility in benefits that allow employees choice that make sense for their family. TASC’s ICHRA as well as other offerings provide a wide variety of benefits that put the power of choice in the employee’s hands. By pairing TASC Universal Benefit Account and other offerings with ICHRA Shop’s Marketplace, employers can feel confident they are enabling their employees with the right solutions to meet their ever-changing needs,” shares Dawn Mortimer, Chief Innovation Officer. “The expectation today, for most employees, and particularly millennials who are tech savvy and working all over the globe is that they want to pick the right benefits that work for them. It is imperative that it is a seamless digital user experience. The expectation is one platform marketplace with one portal, one password, one card, and a user experience that’s the same across all devices.”
About ICHRA Shop
The ICHRA Shop, founded in 2020, is a privately-owned company based in Colorado. Working with employers and their advisors, The ICHRA Shop operates as an aggregator—a centralized source of marketplace quotes for employers, brokers, and advisors, ICHRA platforms, and insurance carriers. The services are stacked so employers and their advisors can compare product features and carrier networks and shop individual insurance products and ICHRA vendors.
The ICHRA Shop provides a support services and point solutions for employers and their advisors. A digital benefits communications package for ICHRA that provides consumers with AI driven decision support for ICHRA, allowing employees the freedom to shop & enroll on their phones or tablets in any language. The ICHRA Shop also provides a digital benefits marketplace that allows employees to compare carriers’ rates, plans, networks and look up doctors an Rx and review HSA comparisons. The ICHRA Shop also provides compliance tools, affordability testing, and benchmarking for ICHRA. We make sure each employee/ employer receives a personalized, customized, branded benefits enrollment experience. The ICHRA Shop works nationwide with employers of any size, advisors and associations.
