July 19, 2023

Did you miss the May 31 individual coverage health reimbursement arrangement (ICHRA) webinar? If so, no worries! Join us for a four-part series called "ICHRA — Navigating for Success."

Part 3: ICHRA Funding and Drafts | ICHRA and Waiting Periods | ICHRA Termination

ICHRA funding and drafts

Download a visual that illustrates recurring and employee change draft timelines for BlueCross BlueShield of South Carolina ICHRA plans.

ICHRA and waiting periods

Reminder: Establishment of an ICHRA creates a special enrollment period (SEP) under the Marketplace. Individuals have 60 days to enroll.

Important: The health reimbursement arrangement (HRA) side of ICHRA is subject to the Affordable Care Act’s (ACA) required 90-day new-hire waiting period maximum. 

BlueCross requires a first-of-the-month start for individual plans and HRAs. 

The longest waiting period an employer can impose is 60 days. 

Example: The employee date of hire is May 18. The 60-day waiting period ends July 17. The effective date of the ICHRA is Aug. 1.   

Tip: Because BlueCross requires a first-of-the-month start, imposing more than a 60-day new-hire waiting period would exceed ACA’s 90-day maximum requirement. 

ICHRA termination

Download a visual that illustrates the termination process.

Please contact your sales representative if you have questions or need more information.