Our Innovative Benefits Solutions Partners
Small and mid-sized companies face challenges in offering competitive benefits options. That’s why we’ve partnered with innovative healthcare providers to help differentiate your organization from its competitors, while empowering your employees and driving impactful change.
The Cutting-Edge Diabetes Management Solution
Enhance your employee benefits package while reducing stress and costs for employees with diabetes. This approach not only cuts company expenses but also removes financial barriers for your workforce. With tools for blood sugar monitoring, individualized care plans, and comprehensive clinical support, you can significantly improve employee well-being and business productivity. To learn more about partnering with Diathrive Health, contact our team today!
Multiple Employer Aggregation Program (MEAR) 401(k)
Unlock the power of a Multiple Employer Aggregation Program (MEAP) 401(k), sponsored by Catapult, for your business! By pooling resources with other employers, you can offer your employees a robust retirement plan with lower costs, reduced administrative burdens, and enhanced investment options. With streamlined compliance and fiduciary responsibilities, a 401(k) MEAP allows you to focus on what matters most—growing your business. Empower your team with a secure financial future and attract top talent with a competitive benefits package. Contact our team today.
HIPPA Compliant Telenutrition Services
HUSK Nutrition’s is an evidence-based HIPAA compliant Telenutrition service, funded by insurance or private pay. Their proprietary mobile app connects employees seamlessly with licensed Registered Dietitians, offering 1-on-1 private nutrition visits, direct messaging, and goal tracking. Employees enjoy features like an incentive program, biometric scale integration and intuitive food tracking. To learn more about partnering with Husk, contact our team today!
An Exciting Alternative to Status Quo Healthcare Carrier Plans
Created by a North Carolinian, HERO has partnered with leading primary care practices, surgical centers of excellence, specialty clinics, pharmacies, and digital health providers across the state to offer world-class healthcare at affordable costs to both employers and employees. HERO also focuses on providing health education, information, motivation and navigation to your employees, helping them adopt healthy habits that serve them well in the long term. Contact us to learn more!
QSEHRA vs. ICHRA: Tailored Health Benefits for Small and Large Employers
Qualified Small Employer Health Reimbursement Arrangement (QSEHRA)
A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is an attractive option available to employers with fewer than 50 full-time-equivalent (FTE) employees who do not offer a group health plan. This allows small businesses to provide their employees with a tailored health benefit without the complexity and cost associated with traditional group health insurance plans.
Key Features
Eligibility & Establishment
- Eligible Employers: Only employers with fewer than 50 FTE employees who do not provide a group health plan can establish a QSEHRA.
- Purpose: The QSEHRA is designed to reimburse employees for their health insurance premiums and/or eligible unreimbursed medical expenses, offering a flexible health benefit solution.
Funding & Contributions
- Employer-Funded: Similar to a traditional Health Reimbursement Arrangement (HRA), a QSEHRA is funded entirely by the employer. There are no contributions required or allowed from employees.
- Annual Limits: Employers can set annual reimbursement limits within the guidelines established by the IRS. For 2024, these limits are $5,850 for single employees and $11,800 for employees with a family.
Reimbursements & Eligible Expenses
- Health Insurance Premiums: Employees can be reimbursed for individual health insurance premiums.
- Medical Expenses: Reimbursement can also cover a wide range of eligible unreimbursed medical expenses, such as copayments, deductibles, prescriptions, and other healthcare-related costs.
Compliance & Regulations
- No COBRA Coverage Required: Unlike traditional group health plans, employers offering a QSEHRA are not required to provide continuation coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA).
- Exemption from ERISA: QSEHRAs are not subject to the Employee Retirement Income Security Act (ERISA), simplifying administration and reducing regulatory burdens for small employers.
Tax Advantages
- Tax-Free Reimbursements: Reimbursements provided through a QSEHRA are generally tax-free for both the employer and the employee, provided the employee has health coverage that meets minimum essential coverage (MEC) requirements.
- Business Deductions: Employers can deduct the reimbursements provided to employees as a business expense, further enhancing the financial appeal of this arrangement.
Individual Coverage Health Reimbursement Arrangement (ICHRA)
An Individual Coverage Health Reimbursement Arrangement (ICHRA) is a modern, employer-funded health benefit designed to offer flexible healthcare solutions to employees. Unlike traditional group health insurance plans, an ICHRA allows employers of all sizes to reimburse employees for individual health insurance premiums and eligible medical expenses. This approach not only provides financial assistance for healthcare costs but also empowers employees to select the health insurance plan that best fits their personal needs.
Key Features
Eligibility & Establishment
- Eligible Employers: Employers of any size can establish an ICHRA, making it a versatile option for both small businesses and large organizations.
- Employee Classes: Employers can design ICHRAs to cover specific classes of employees, such as full-time, part-time, seasonal workers, or those in different geographic locations. This allows for tailored benefits that align with the diverse needs of the workforce.
Funding & Contributions
- Employer-Funded: The ICHRA is entirely funded by the employer, who sets the reimbursement limits. There are no contributions required from employees.
- Reimbursement Limits: Employers have the flexibility to determine the maximum reimbursement amounts for different classes of employees. These limits can be adjusted annually based on the employer’s budget and the healthcare market.
Reimbursements & Eligible Expenses
- Health Insurance Premiums: Employees can be reimbursed for individual health insurance premiums, giving them the freedom to choose from a range of plans available in the individual market or through the Health Insurance Marketplace.
- Medical Expenses: Reimbursements can also cover a broad spectrum of eligible medical expenses, including copayments, deductibles, prescription drugs, and other out-of-pocket healthcare costs.
Compliance & Regulations
- ACA Compliance: ICHRAs must comply with the Affordable Care Act (ACA) requirements. Employees receiving ICHRA funds must be enrolled in individual health insurance coverage that meets minimum essential coverage (MEC) standards.
- No Minimum or Maximum Contribution Limits: Unlike traditional HRAs, ICHRAs do not have specific minimum or maximum contribution limits, providing employers with greater flexibility in designing their benefits packages.
Tax Advantages
- Tax-Free Reimbursements: Reimbursements made through an ICHRA are generally tax-free for both the employer and the employee, provided the employee has qualifying health coverage.
- Business Deductions: Employers can deduct the reimbursements as a business expense, enhancing the financial appeal of offering an ICHRA.
We understand that each employee is different, and every employer wants to meet their healthcare needs. Find out how Catapult can help.
Contact us to learn more about innovative benefits solutions.
Innovative Benefits Solutions FAQs
What is a Multiple Employer Aggregation Program (MEAP) 401(k)?
A MEAP 401(k) allows multiple employers to pool resources, offering employees a robust retirement plan with lower costs, reduced administrative burdens, and enhanced investment options.
Interested in learning more. Talk to an expert today!
How does Diathrive Health help manage diabetes?
Diathrive Health provides tools for blood sugar monitoring, individualized care plans, and comprehensive clinical support to improve employee well-being and reduce company expenses.
Start a conversation with us today to learn how Diathrive can transform your total rewards package.
What services does HUSK Nutrition offer?
HUSK Nutrition offers HIPAA compliant telenutrition services, connecting employees with licensed Registered Dietitians for 1-on-1 visits, direct messaging, goal tracking, and more.
Want to learn more? Contact us today.
What is HERO and how does it benefit employees?
HERO partners with healthcare providers to offer affordable healthcare, focusing on health education and motivation to help employees adopt long-term healthy habits.
What other benefits administration services does Catapult provide?
Our benefits administration team administers a variety of accounts, including COBRA, Flexible Spending Accounts, Lifestyle Spending Accounts, Health Reimbursement Accounts, Health Savings Account, Limited Purpose Flexible Spending Account, QSEHRA, ICHRA, Retiree Billing, and Transit and Parking Account.
Interested in learning more? Explore our benefits administration solutions.
