ICHRA Savings Calulator
🧠 What is ICHRA?
ICHRA stands for Individual Coverage Health Reimbursement Arrangement. It's a way for employers to help pay for your health insurance — but instead of offering a traditional group plan, your employer gives you money each month (pre-tax) that you can use to buy your own health plan through the individual marketplace.
Think of it like a health insurance gift card from your company. You get to choose the plan that fits your life, and your employer helps cover the cost.
This tool helps you see if using your employer’s ICHRA (through Benepicks) saves you money compared to just buying a plan on your own.
Here’s what to do:
Enter your total household income – This helps us estimate your tax rate.
Choose your filing status – This affects your tax rate too.
Enter what you plan to spend each month on health insurance – Just your best estimate.
Enter how much your employer will give you each month for health insurance – This is your ICHRA amount.
Then hit “Calculate Savings” to see how much you could save each year by using ICHRA instead of paying fully out of pocket.