Next-generation health benefits platform doubles down on commitment to brokers by investing in technology to help them grow and retain ICHRA business.
NEW YORK, Oct. 15, 2024 /PRNewswire-PRWeb/ -- Zorro, the leading platform for personalized healthcare benefits, today announced significant enhancements that make selling and administering Individual Coverage Health Reimbursement Arrangements (ICHRA) even easier. Now, any broker partner selling ICHRA can access real-time quoting, streamlined onboarding and enrollments, and transparent administrative tools.
As ICHRA continues to grow in market share, particularly amongst larger employers, brokers are investing more heavily in building it into their health benefits strategies. The latest Zorro release includes a number of upgrades that will simplify selling, onboarding, supporting customers, and setting up brokers to win and retain ICHRA clients.
"Zorro truly takes the pain out of selling ICHRA because all of the data is right there to use," says Nick Novelli, President of MediLink Insurance and avid Zorro user. "Their platform combines everything we need as brokers to empower our clients in designing and implementing an ICHRA, while helping employees make informed choices about their benefits."
Notable enhancements include:
- Self-service quoting. Zorro premier broker partners can now access a real-time quoting tool. With a simple census upload, brokers can run their quotes and instantaneously build allocation models, allowing them to generate proposals more than ten times faster than they could manually.
- Streamlined onboarding with shared controls. Brokers can now log into their portal and instantly onboard new client profiles. Through shared broker/Zorro controls, tasks can be assigned back and forth between parties to quickly get companies up and running with their plans.
- Simplified enrollments with full visibility into employee data. Brokers who lead their own enrollments can now add and remove employees, manage and track eligibility, and digitally assist with submissions. Additionally, brokers and administrators enjoy complete transparency on carrier selection, enrollment status, and up-to-date payment details.
- Integrated payment solution. During enrollment, brokers can instantly set employees up with Zorro Pay, Zorro's virtual payment card. This eliminates any delays between employee plan selection and carrier application submissions.
- Payroll integration. Integrating with hundreds of payroll providers will help eliminate any manual work, thus mitigating an employer's risk while saving them time.
- Advanced compliance reporting and filings. While Zorro always surfaced all compliance-related data, it can now take on reporting and filings.
"As Zorro continues to invest in making ICHRA easier and more accessible to businesses nationwide, we remain committed to our broker partners and the instrumental role they play in the benefits ecosystem," says Guy Ezekiel, Founder and CEO of Zorro. "I'm incredibly proud of the technology we've built to support brokers and the speed-to-market that keeps us differentiated in the growing ICHRA space."
Zorro's platform enhancement releases are strategically timed to support brokers through peak renewal and enrollment season. Quoting updates improve broker's turnaround time delivering viable health plan alternatives, while enrollment improvements ensure brokers taking agent of record can maintain their imperative role in the client experience. By equipping brokers with AI-driven tools, full data transparency, and an intuitive platform, ICHRA can continue to gain rapid adoption and appeal.
What is ICHRA?
Introduced in 2019 and implemented in 2020, ICHRA is a new type of health reimbursement arrangement (HRA) where employers give employees money to buy their health insurance plans. Employees can then shop for ACA-qualified coverage on or off the Individual Marketplace, also known as the "Exchange," and choose the plan that best suits their unique needs. Like with a group plan, the dollars are tax-free for both sides and fulfill the ACA employer mandate for employers over 50 lives. But unlike traditional plans, ICHRAs expand control for the employer while giving employees more autonomy over plan selection and spend.
About Zorro
Zorro is a cutting-edge ICHRA administration platform leveraging technology to transform how employee benefits are purchased and delivered. Our unwavering mission is to revolutionize the healthcare landscape by making high-quality and affordable healthcare accessible to all.
At Zorro, we believe that companies should have greater control over the cost and quality of the plans they offer, while individuals should have greater autonomy when it comes to their healthcare decisions. Gone are the days of settling for generic, one-size-fits-all group health plans with escalating year-over-year investment. Instead, Zorro leverages ICHRA to empower both employers and employees to engage with more affordable, predictable, and customized healthcare benefits.
For more information, visit https://myzorro.co.
Media Contact
Abbey Yvon, Zorro, 1 6174705265, [email protected], https://myzorro.co
SOURCE Zorro
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