Ideon Press Releases

July 16, 2020

By: Ideon

Vericred Launches ICHRA Affordability Calculator API

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Vericred Launches ICHRA Affordability Calculator API

**NOTE: Ideon is the company formerly known as Vericred. Vericred began operating as Ideon on May 18, 2022.**

Expands infrastructure powering ICHRA solutions for brokers and employers

NEW YORK–(BUSINESS WIRE)–Vericred, a data services company simplifying the exchange of health insurance and employee benefits information, today announced the immediate availability of its ICHRA Affordability Calculator API. This new functionality is an extension of Vericred’s ICHRA Development Kit, which enables HRtech and InsurTech companies to build fully digital, end-to-end Individual Coverage Health Reimbursement Arrangement (ICHRA) solutions for brokers, employers and their employees.

Under ICHRA regulations, employers with greater than 50 employees must meet certain minimum contribution requirements or be subject to financial penalties. The minimum employer contribution is a complex calculation based on employee classification, age, home and work locations, and the Affordable Care Act (ACA) plans available in these various locations. Vericred’s ICHRA Affordability Calculator API programmatically determines the minimum amount that an employer would need to contribute to their employees’ health insurance costs to comply with ICHRA affordability requirements.

Small groups, those generally with less than 50 employees, are not subject to the same requirements and may actually want an “unaffordable” ICHRA so that their employees can be eligible for ACA subsidies. The Calculator also determines the subsidy that an employee would receive if they opted out of an unaffordable ICHRA and, instead, purchased a plan directly through the federal or state-based public exchange. This allows InsurTech companies to develop robust decision support tools comparing each employee’s costs under affordable and unaffordable ICHRAs.

“There is considerable momentum for companies, large and small, to adopt ICHRAs as an alternative to traditional employer-sponsored coverage,“ said Michael W. Levin, Vericred’s co-founder and CEO. “Our ICHRA Affordability Calculator is yet another element of the infrastructure necessary for developers to create great ICHRA experiences for brokers, employers and employees.”

Vericred’s Calculator brings new functionality to its existing ICHRA Development Kit. The development kit includes the following additional data solutions:

  • Group and Individual Quoting APIs, providing tech platforms with a means to generate quotes in both markets from hundreds of health insurance carriers, thus enabling brokers and employers to evaluate the cost differences between small group and individual health plans, and ultimately to enable employees to shop for individual insurance plans.
  • Group to Individual Disruption Analysis API, enabling solutions that empower brokers and employers to examine how shifting employees from traditional group coverage to individual market plans would impact employees’ in-network access to their favored providers.
  • Shop by Doctor and Shop by Drug, powering solutions that allow employees to shop for individual insurance plans based on their preferred doctors and prescription drugs.

For more information about Vericred’s ICHRA solutions, including the Affordability Calculator, contact

About Vericred

Vericred has built the first end-to-end quoting, enrollment and member management middleware (API) platform for health insurance and employee benefits. By simplifying the exchange of data between carriers and technology companies, Vericred is enabling the digital transformation of the health insurance and employee benefits industry. Vericred offers robust solutions for the employer market, as well as the under 65 individual, Medicaid and Medicare markets.


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