Benefitbay Reviews

Benefitbay Description

Benefitbay uses a brand-new benefit called ICHRA. This allows employers to reimburse their employees for individual health insurance plans while still maintaining the tax benefits of a group policy. Benefitbay gives employees the power to choose the best benefits that meet their needs. We have focused on the key features and built a platform that is focused on simplicity, compliance and smooth deployment. It also offers savings and support. Sort employees by location, hourly vs. salaried, or age. Set your budget, and assign a strategic allocation for each class. The employees are guided through a simple shopping and enrollment process. They can choose any plan that is available in their area, whether it is on or off the exchange. Automatic monthly premium payments are made by funding Advanced Reimbursement Accounts. Off-exchange plans are funded with pre-tax payroll deductions & all documents are created.