ICHRA Market Leader Take Command Launches Next-Generation HRA Hub
Enhanced technology to help employers make the most of their benefit dollars while providing health benefits that matter to their employees
DALLAS, Aug. 13, 2024 /PRNewswire/ — Take Command, a leading health benefits technology company and the largest provider of Individual Coverage Health Reimbursement Arrangements (ICHRAs) in the country, today announced the launch of its next-generation platform HRA Hub to better enable employers to administer ICHRAs as an alternative to traditional group health insurance.
Through ICHRAs, employers can provide a tax-free stipend that lets employees select their chosen health plan while mitigating the business’ cost increases and improving the bottom line.
HRA Hub’s launch comes at a pivotal time for employers. In advance of the 2025 enrollment season, many employers are already seeing double-digit increases on their health insurance for next year. There’s an 8% forecasted annual increase in medical costs — one of the biggest jumps in healthcare costs in years — driven by inflationary pressure, rising prescription drug spending and behavioral health utilization. More employers will be looking for alternatives to the unsustainable renewal cycle, and HRA Hub’s new features meet the moment.
“With the help of our benefit consultant partners’ and clients’ insights and collaboration, we are pleased to introduce Take Command’s next-generation platform HRA Hub to equip businesses with the ultimate, best-in-class technology and features available in the ICHRA space,” said Take Command CEO Jack Hooper. “We’re proud to lead this quickly evolving market that’s changing health insurance as we know it.”
Delivered through a user-friendly design, new features and capabilities include:
- HRIS and payroll integrations with enhanced data visibility to save HR teams time and improve information accuracy, available for 2025 plan year
- Sophisticated compliance, reporting features, and data management give admins immediate information about employees’ benefits and help CFOs and finance teams with cost control and forecasting
- Easy-to-use shopping experience with personalized plan selection support for employees to choose the best plan for them with confidence
- Simplified payment process with AutoPay that elevates the experience for employees and reduces administrative work for HR
- SOC2 compliance to keep employee health information safe
Take Command is a pioneer in the ICHRA administration space, delivering the first end-to-end platform experience from plan selection to onboarding and the day-to-day management of an employer’s health benefits plan. With a $25 million capital investment led by growth equity firm Edison Partners in September, Take Command evolved its technology, expanding the platform’s security, compliance, and integration capabilities to support key partnerships and enterprise-level clients of 500 employees or more.
“Our new platform, combined with our unrivaled carrier network and the emergence of prominent partnerships, enables Take Command to offer employees unprecedented choice when it comes to selecting a benefit plan that is right for them,” Hooper adds.
HRA Hub symbolizes an effective leveling up of the Take Command brand along with the entire ICHRA space as the market continues to evolve and grow. As the first-to-market leader of this new benefits solution, Take Command has distilled an unmatched depth of experience and customer input into the new platform, delivering a purpose-built platform that puts people first — from the admins who rely on it for data and reporting to the CFOs who look to ICHRA for cost control to the employees who depend on it for personalized health plan recommendations.
To learn more about HRA Hub, visit:
https://www.takecommandhealth.com/hra-administration-software
About Take Command
Take Command is an award-winning B2B SaaS company that has helped more than 6,000 employers reimburse employees for individual health insurance tax-free. The Series B startup specializes in ICHRA administration and QSEHRA administration to provide unprecedented choice and personalized benefits for employees and cost control and flexibility for employers. Take Command is a founding member of the HRA Council and is the only HRA administrator to offer full service, in-house individual enrollment support and SOC2 compliance. Learn more about Take Command.
Contact:
Amy Skinner
Take Command
(214) 866-7757
amy@takecommandhealth.com
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SOURCE Take Command
