Louisville, Ky. (October 28, 2024) – As part of its evolving suite of cost saving programs, Greater Louisville Inc. launched a new Individual Coverage Health Reimbursement Arrangement (ICHRA) program in partnership with Transperra Choice and Kyndly. The ICHRA program will provide an alternative to traditional employer-sponsored group insurance plans, so all businesses can offer affordable, private health insurance to their employees.

“Our region is still seeing a tight labor market, so it is critical businesses of all sizes stay competitive with their benefits packages. That’s why we are proud to add to a new program to our investor benefits to give employers more options to offer comprehensive health coverage,” said Sarah Davasher-Wisdom, president and CEO of GLI. “Our goal is that the new ICHRA program makes affordable, employer-sponsored health insurance attainable for all businesses in our region.”

The ICHRA program is designed to empower employers to reimburse employees for individual health insurance premiums and qualified medical expenses. This innovative approach allows businesses of all sizes to tailor health benefits to their employee’s specific needs, ensuring they can choose the coverage that best fits their individual health requirements.

Through an ICHRA, each individual employee chooses their own plan and employers set a contribution amount. This provides more flexibility for employees to choose the coverage they need and adds another tool in helping small to mid-sized businesses offer robust benefits.

The new program will complement other GLI cost saving programs, including Anthem’s ChamberAdvantage program, which is one of the largest multiple employer welfare arrangements (MEWA) in the country. With both a competitive group plan and ICHRA option, GLI will create more options for employers to design the insurance benefits structure that works best for their organization and employees.

The program will be administered by Transperra Choice and Kyndly, a Louisville-based startup and is available to all GLI investors. For more information, click here or contact Alana Turner.  To view a full listing of GLI’s cost saving benefits, click here.

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About Greater Louisville Inc.

Greater Louisville Inc. is the Metro Chamber of Commerce and represents 15 counties in Kentucky and Indiana. GLI’s mission is to grow businesses and the regional economy. GLI supports businesses during every stage of development and represents the collective needs of the business community by advocating for pro-growth policies and economic development investment, and deploying programming centered around attracting and developing talent and economic inclusion. GLI is the 2019 National Chamber of the Year and is one of only three percent of chambers nationally certified with 5-star accreditation status by the U.S. Chamber of Commerce. Learn more on social media @GLIchamber or visit www.greaterlouisville.com.