Get budget-friendly health insurance that helps you recruit great clinicians
If you own a private practice, getting health insurance can feel daunting. (In this article, we’re talking primarily about dentists, physicians, therapists, and veterinarians in private practice.)
Even though you know about insurance from the patient side, offering it to employees is another thing entirely. The process can feel overwhelming, there are compliance considerations, and you don’t want to spend the extra time on benefits administration.
HRAs are a solution that private practices throughout the U.S. are using. It’s a tax-free way to offer employee health benefits where you’re in charge of the budget and they get to choose their plan.
In this article:
What is an HRA?
A Health Reimbursement Arrangement (HRA) is a tax-advantaged health benefits solution where employers give a monthly allowance to employees for qualified medical expenses and insurance premiums. The employer sets the budget, and the employees buy healthcare plans from the ACA or state marketplace.
The struggles of offering insurance to your healthcare providers
Group insurance is expensive and one-size-fits-all
Rising premiums and unpredictable renewals for group health insurance have become the norm. It’s a nightmare for PP owners. If they already have a group plan, there’s no way to predict skyrocketing rates. If they are considering group insurance, it’s often completely out of budget.
Traditional group insurance also forces employees into the same plan. A 25-year-old and a 50-year-old have very different healthcare needs and yet, they are subjected to a one-size-fits-all plan. And the employer is the one who is forced to choose it.
Some practice owners have looked into health insurance offerings from professional associations only to find that the costs are the same as group pricing because they pool thousands of providers together to get large group pricing.
Private practices are competing with large clinics or medical systems
Hospitals and large clinics have a lot to offer clinicians. When a PP is trying to recruit or retain staff, they’re up against steep compensation packages that include robust benefits.
At some private practices, many of the staff are on their spouse’s insurance. This might be because the practice has fewer than 50 employees and isn’t required to provide health insurance. Whatever the case, a lack of health benefits is not ideal for employees, and if a spouse’s insurance isn’t an option, they’re left to fend for themselves. And health insurance is most certainly a factor when someone is considering employment.
That pressure of competing with hospitals and large systems is a real concern, which is why many private practice owners are looking for alternative solutions.
Why HRAs are the modern answer for private practice owner health insurance
You control the budget. Staff control their care.
Lower costs and predict budget: With a Take Command HRA, you control the costs. You set a monthly allowance for your staff to buy their plan, and that’s it. The budget only changes if you want it to, and you’re able to forecast with 100% accuracy — no renewal shocks or hidden fees.
Recruit and retain talent: Good clinicians are the heart of your practice. When you take care of them, it shows. The clinic environment is more positive, which translates to a better patient experience. When you offer an HRA, your clinicians get to choose the health insurance plan that works for them. You’re providing them an incentive to join your practice and stay loyal to it.
Get flexible coverage: A Take Command HRA works for all types of employees including full-time, part-time, PRN, or 1099 staff. No matter what mix of employees you have, they all qualify for an HRA, giving you the flexibility you need and giving staff the coverage they want.
Maximize admin time: A Take Command HRA keeps admin requirements to a minimum. We manage reimbursements for you, and compliance is built into our systems. Your admin saves hours each month, and adhering to regulations for HIPAA, ACA, and HRAs is part of the Take Command service.
Calculate your HRA tax savings
The myths of HRAs for private practice
Myth #1: “Our practice is too small for a plan like that.”
Fact: HRAs work for employers of any size. In fact, QSEHRA is designed specifically for employers with 1–50 employees
Myth #2: “Managing reimbursements will take too much time.”
Fact: Our HRA administrative software takes care of reimbursements for you, so your admin team can focus on patients instead of paperwork.
Myth #3: “HRAs aren’t real health insurance.”
Fact: With an HRA, employees choose the health insurance plan they want from the ACA or a state marketplace, and it is purchased with the employer’s HRA allowance.
How brokers come into play for private practice health insurance
Take Command partners with health insurance brokers throughout the country. If you are working with a broker, we’re happy to speak with them about HRAs.
Share this page with your broker:
ICHRA for Brokers
What to read next
A guide for private practices
Discover how modern HRAs give private practice owners a smarter way to control healthcare costs— without sacrificing competitive benefits for your team.
The ultimate guide to HRAs for private practices
Ditching your group health plan
HRAs are an easy alternative to group plans that provide modern, personalized benefits without the unpredictability and lack of control.
Ditching your group health plan
Modern benefits for modern care
Learn how a Take Command HRA empowers your clinicians with flexible, affordable coverage that grows with your practice.
HRAs for healthcare organizations
Health insurance for small business
Boost recruitment and retention with modern, personalized health benefits that won’t break the bank.
Health insurance for small business
Contact Take Command to learn about health benefits for private practice
We’d love to help your private practice.
