ICHRA Success Story: How Loureiro Engineering Reimagined Health Coverage & Cut Costs with Brian Cutler, CEO
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Article Summary
In this episode, we sit down with Brian Cutler, CEO of Loureiro Engineering, an employee-owned global engineering company based in Plainville, Connecticut. Brian shares the compelling story behind Loureiro Engineering's decision to transition from a traditional group health insurance plan to an Individual Coverage Health Reimbursement Arrangement (ICHRA) after several years of high renewals.
Rising healthcare costs are making it increasingly difficult to maintain a comprehensive benefit plan for a multi-generational workforce.
The good news? You have more choices today than ever before to support your employees without increasing your expenses.
In this episode, host Jeff Cross speaks with Brian Cutler, CEO of Loureiro Engineering, an employee-owned global engineering company based in Plainville, Connecticut. Brian shares the compelling story behind Loureiro Engineering's decision to transition from a traditional group health insurance plan to an Individual Coverage Health Reimbursement Arrangement (ICHRA) after several years of high renewals. The two get into the benefits and challenges of implementing an ICHRA, the steps his team took to make the switch, and how this change is supporting both the company’s bottom line and its people. He shares the mistakes he made that led him to going down the ICHRA path and what he'd share with other companies who find themselves in a similar situation. If you’re a small or mid-sized business leader searching for better ways to offer health coverage—this episode is for you.
About Friends with Employee Benefits Podcast Episode
In this season of Friends with Employee Benefits, we're focused on one underlying theme: help employers contain their healthcare cost by, among other things, helping their employees live healthier lifestyles. This season, we’re tackling the biggest challenges in healthcare today: the obesity crisis, the rise of GLP-1s medications and skyrocketing pharmacy costs. But we’re not stopping there.
We’re diving into financial, mental and physical health – the mind-body connection, the financial stress-health link, and why America’s healthcare system focuses on sick care instead of prevention – and how that needs to change. We’re going to be sitting down with doctors, CEOs and HR professionals, pharmacy consultants, forward-thinking tech businesses, legislators and more – all with one goal – to answer the question: how are we impacting the health of our employees, and in turn, the health of the business.
If you’re ready for real talk, great insights, and practical solutions as it relates to all things healthcare, this season is for you.
Interested in proven strategies to mitigate rising healthcare costs and protect your bottom line? Explore more insights, tools, and real-world solutions and visit OneDigital's Cost Containment Hub.