Oscar Health is collaborating to launch ICHRAx, a data exchange for carriers and administrators working on individual coverage health reimbursement arrangements, CEO Mark Bertolini said on a May 6 company earnings call.
Mr. Bertolini said through the initiative, the company “brought the industry together … to meet the rising demand” with ICHRAs. He described the platform as a “plug-and-play data exchange” that links carriers, brokers and ICHRA platforms to build a consistent employee experience.
According to ICHRAx’s website, the platform will focus on achieving alignment with operating norms and data formats.
Mr. Bertolini said Oscar Health is working with state lawmakers and business groups to promote ICHRA adoption, citing tax credits in Mississippi and Illinois. Oscar also recently launched Lucie, a “carrier-agnostic” storefront for employers, consumers and brokers. While offering ACA health plans, the platform also enables bundling with supplemental and ancillary products.
“ICHRA is gaining traction as employees demand choice and flexibility, and employers seek predictable healthcare costs,” Mr. Bertolini said.
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