How does StretchDollar work?

StretchDollar makes it simple for small businesses to offer real health benefits through an ICHRA (Individual Coverage Health Reimbursement Arrangement). Instead of picking one group plan for everyone, you set a monthly, tax-free allowance. Your employees choose the individual health plan that fits them, and StretchDollar reimburses them automatically.

Why employers choose an ICHRA

• You control the budget. You decide exactly how much to contribute each month. No surprise renewal increases on a group plan you don't control.
• It's tax-advantaged. Allowances are a tax-deductible business expense, and they're tax-free for employees when used for qualifying coverage.
• No participation minimums. Unlike most small-group plans, you don't need a set number of employees to enroll for the benefit to work.
• Employees get real choice. Each person picks the plan, doctors and coverage level that fit their life, instead of a one-size-fits-all group plan.
• It works for different kinds of teams. You can set different allowances for up to four employee classes: full-time, part-time, salaried and hourly.

How it works

1. Set up your company. Sign up, add your business details, and verify your business bank account.
2. Choose your allowance. Pick a flat monthly amount for each employee class. You can also add an amount per dependent. If you work with a broker or reach out to the StretchDollar Sales Team, they can quote Smart Rates, which set each employee's allowance as a percentage of a benchmark plan based on their age and location.
3. Invite your team. Add your employees and StretchDollar emails them an invitation.
4. Employees shop and enroll. StretchDollar recommends plans for each employee and walks them through enrolling. They can also add dental and vision.
5. Approve once. When an employee submits proof of their plan, you approve it in your admin portal.
6. Reimbursements run automatically. After approval, StretchDollar pays the first month right away, then moves each month's allowance automatically on the 25th for the following month. There's nothing to run each month.

What StretchDollar takes care of

• Compliance documents. Your ICHRA plan document and the required employee notices are generated for you.
• Plan shopping. Employees get personalized plan recommendations, and they can book time with a licensed expert if they want help choosing.
• Monthly payments. Reimbursements move automatically, so you don't have to track receipts every month.
• Support. Our team helps you and your employees with setup, enrollment and reimbursements.

What it costs

StretchDollar charges a monthly platform fee plus a per-employee fee. Your contributions to employees' allowances are separate from these fees. For current pricing, see stretchdollar.com/pricing.

Ready to get started?

Most employers can be set up in a day. Sign up at dashboard.stretchdollar.com, or reach out to support@stretchdollar.com with any questions.