“Last year, our clients offered their employees nearly $12 million in benefits through a QSEHRA,” shares Jack Hooper, CEO, Take Command Health. “This is a flexible alternative to expensive small group plans that offers budget control and predictability for employers and plan choice and portability for employees.”
Key findings include:
- Professional services, associations and nonprofits, healthcare providers and services, tech, and financial services lead in signups
- Employer size ranged from 1-36 employees, with the average being four employees.
- California, Texas, North Carolina, New York, and Florida lead in signups
- Average monthly reimbursement is $332.58 for singles, $491.72 for couples, $505.52 for families.
- Utilization rates were just under 64%, meaning that employees aren’t using their full benefit. (The employer keeps the leftover funds).
- Recent client survey found that 1 in 5 clients who responded are women-owned businesses, 1 in 10 are veteran owned businesses, and 1 in 13 are minority-owned businesses.
“We’re seeing QSEHRA signups continue to trend upward despite the pandemic and economic uncertainty,” adds Hooper. “Carriers are returning to markets, individual premium prices are stabilizing, and awareness is growing.”