President Trump created ICHRAs six years ago. So it’s fitting that he may have the chance to bring these lower-cost insurance options to even more people this summer. Let’s hope Congress gives him the chance.
Health insurance is more expensive than ever. The average family plan last year cost employers and employees over $19,000 and nearly $6,300 per year, respectively. That’s enough to buy a new car.
Congressional Republicans’ budget reconciliation bill could help bring down those costs. Among other things, the One Big Beautiful Bill Act now under consideration in the Senate would expand access to “Individual Coverage Health Reimbursement Arrangements,” or ICHRAs, which allow companies to offer workers tax-free money to buy their own insurance on the individual market
That’s a good thing. By giving people more control over their healthcare dollars, ICHRAs could boost competition in the insurance market, force health plans to improve the quality of their products, and put downward pressure on prices.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Congress Can Help Small Businesses Afford Health Insurance
Sally C. Pipes
President Trump created ICHRAs six years ago. So it’s fitting that he may have the chance to bring these lower-cost insurance options to even more people this summer. Let’s hope Congress gives him the chance.
Health insurance is more expensive than ever. The average family plan last year cost employers and employees over $19,000 and nearly $6,300 per year, respectively. That’s enough to buy a new car.
Congressional Republicans’ budget reconciliation bill could help bring down those costs. Among other things, the One Big Beautiful Bill Act now under consideration in the Senate would expand access to “Individual Coverage Health Reimbursement Arrangements,” or ICHRAs, which allow companies to offer workers tax-free money to buy their own insurance on the individual market
That’s a good thing. By giving people more control over their healthcare dollars, ICHRAs could boost competition in the insurance market, force health plans to improve the quality of their products, and put downward pressure on prices.
Read the op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.