Is there a minimum participation rate for your benefit plan?
One of the advantages of StretchDollar's pre-tax fixed benefit (also called an ICHRA) is that there is no minimum participation rate needed to enroll. Meaning, as many or as few of your employees can accept or waive the health benefit.
We often get the scenario and question: "Several of my employees get health insurance through their partner. Can I enroll if just a few employees need the health benefit?" The answer is yes!
All employees of the category you selected to cover (Full-Time, Salary, etc.) must be offered the benefit in order to be in compliance with federal ICHRA rules. It's okay to just set up your benefit for full-time employees only. (Part-time workers can be excluded or reimbursed at a different rate.) But, you must offer the same allowance to everyone in the group (even if you know they'll waive.)