Benefitbay

Benefitbay is a broker‑led ICHRA technology and administration platform built to help employers replace traditional group health plans with a compliant, scalable Individual Coverage HRA model. Operating under an agent‑first philosophy, Benefitbay partners exclusively with brokers as the primary advisors while delivering the underlying technology, enrollment execution, and ongoing administration needed to run ICHRAs at scale. The platform supports the full lifecycle of an ICHRA program, including ACA affordability modeling, class and contribution design, employer onboarding, employee enrollment, compliance management, and renewal support. Employees enroll through an integrated shopping experience that provides access to the full off‑exchange individual market nationwide, supported by plan comparison tools, provider search, prescription review, and employer‑defined benchmark plans that guide, without limiting, choice. Enrollment and year‑round servicing are handled by licensed, in‑house W‑2 counselors, ensuring accurate applications, policy effectuation, and consistent member support. A core differentiator is Benefitbay’s proprietary ARC banking and reconciliation system, which enables consolidated, group‑style billing for individual plans by automating premium funding, carrier payments, and transaction‑level reconciliation. Employers and brokers benefit from self‑serve, real‑time reporting across enrollment, billing, payroll, and compliance, delivering predictable costs, financial transparency, and audit readiness while preserving broker ownership of the client relationship.