ICHRA Basics
ICHRA is short for
What is Individual Coverage Health Reimbursement Arrangement
Here you can edit enrollment dates, upload contributions, and add employees to a group
What is the Bavvy Plan
Corey Lawson is licensed all states except
What is New York
I turn 65 in May, meaning I'm eligible to enroll in Medicare in this month
Bavvy reached this milestone of enrollment lives during this past National OE window
This document must be provided to clients in writing 90 days before the start of plan year, if possible
What is the ICHRA Notice
This allows employees to use funds provided by their employer to pay for premiums
What is Bavvy Pay
This marketplace is used to enroll Mass residence
What is HSA Insurance
Turning 65 in May also means the latest I can enroll is this month
What is August
Bavvy is an abbreviate of these two words
What is benefits savvy
These two Qualifying Life Events allow a carrier to backdate coverage or change the coverage end date
What is birth/adoption or death
Formerly known as Bavvy Support
Who is the Bavvy Customer Success Team
Uncle Sam is swimming in cash thanks to this newest Bavvy friend
What is ACA Prime
This number is required on application for Medicare Advantage plans and supplements
What is the Medicare Payor ID
The year Bavvy was created
What is 2020
Both of these accounts offered by an employer, can continue to be offered alongside an ICHRA
What is FSA/HSA
(Need to have a HDHP to contribute to an HSA)
If a client rejects an ACH, this team is notified
Who is Bavvy Banking
This friend of Bavvy demands you do not update PEPMs
Who is Ben (Software)
This household income related fee, stands for
Bavvy averages a group PEPM of this number, representing the answer to the ultimate question of life, the universe, and everything, according to Douglas Adams' "The Hitchhiker's Guide to the Galaxy"
What is $42
Group Health plans are generally considered either self insured or fully insured. ICHRAS however are only considered
What is self insured
One of the newer Teams Chats to track important Bavvy information
What is the Bavvy Reference Guide
Whether or not dental and vision is offered by Bavvy is up for debate, but if it were, dental and vision policies could be purchased through this carrier
Who is Ameritas
To be eligible for Medicare, you must have worked in the US for at least ten years, earning this many work credits
What is 40
An employee elects COBRA with a $1000 premium and a $500 employer contribution, leaving the employee paying personally this amount
What is $1010