According to Take Command Health, individual coverage health reimbursement accounts (ICHRAs), which first became effective on January 1, 2020, are already becoming popular with small businesses. This is so particularly in states with strong individual markets (e.g., California, Texas, Florida and Oregon). 78% of ICHRA enrollees are small businesses with less than 10 employees, 16% are mid-size companies with 10-49 employees, and 6% are ALEs (those with 50 or more employees).
Alert: Follow coronavirus-related federal tax changes through the IRS’ Coronavirus Tax Relief center.
