Get your Go/No Go Quote!

The first step in this process is to check if your prospective group is a good fit for ICHRA! After you successfully upload the new employer census, you will access your ICHRA quote by navigating to the FULCRUM tool

After you log in to your benefitbay profile and navigate to the employer group you're prospecting, you'll want to click their 'Enrollment Periods' tab. Here you will find the 'Enrollment Periods' next step check list. You'll then click the blue 'Define contribution' tab which is located under the section titled 'Set up your ICHRA plan. This will open up our ICHRA Modeling tool.

From here you will click on the three dots at the end of the 'Default' row which will expand a menu, allowing you to select the 'FULCRUM' button which will open up our FULCRUM tool.

Once you've accessed the FULCRUM tool, you can easily view the cost comparison between the employers current group rate and the ICHRA projection. Before getting into any classing of the employees, this initial step will allow you to quote ICHRA to a prospective group and provide them a cost comparison in an easily understandable way. 

For more details of the cost break down, simply hover your cursor over each of the bar graphs. This will expand with the cost breakdown so you can quote employers with real dollar estimates. If there are enough savings available for the employer based on what they currently pay, you will be ready to move the conversation to the next phase. 

The 'Update benchmark' drop down menu allows you to easily adjust the ICHRA quote to different metal tier rates. This feature is helpful in-order to present a quote that is for a comparable product to what the employer is currently paying for. You don't want to show them the quote for a low silver plan if their group is currently enrolled in a gold low plan. Part of financial viability is to see if the employer can save money and the employee's can receive similar or better benefits.