Bring Your Own Plan (BYOP)

If you already have a health plan or there are no Thatch plans available in your area, you can Bring Your Own Plan (BYOP) — meaning you purchased your insurance directly from an insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. or marketplace instead of through Thatch.

You might BYOP if:

• You already have an individual or family plan (IFP) you want to keep
• You're enrolling in an on-exchange marketplace plan
• You're enrolling in Medicare
• You have a catastrophic or student health plan
• You live in a state where Thatch doesn't currently offer plans (South Dakota, Washington D.C., or Hawaii)

	Purchase through Thatch	Bring Your Own Plan
Broker of Record	Thatch is the Broker of Record and manages your plan directly	Thatch is not the Broker of Record and won't be able to help manage your coverage
PremiumpremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. payments	Thatch handles your monthly payments	You must pay your insurance insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. directly each month
Plan support	Thatch can assist with certain plan issues	Thatch can't access or manage your plan
Plan maintenance	No action needed to keep your plan active	You must make timely payments to your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. to keep your plan active

caution

With BYOP, you're responsible for paying your insurance premiumspremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. directly. Thatch can't make payments or set up autopay with your insurance insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. on your behalf.

Plan criteria

Your ICHRA (individual coverage health reimbursement arrangementIndividual Coverage Health Reimbursement Arrangement (ICHRA). An employer-funded arrangement that reimburses employees tax-free for individual health insurance premiums and qualified medical expenses, instead of the employer offering a group health plan. Also called a CHOICE Arrangement.) allowanceallowanceThe amount an employer makes available to help employees pay for coverage or eligible expenses. can be used with:

• Individual and family plans (IFPs) without tax credits or subsidies
• Student health plans

Your ICHRA allowanceallowanceThe amount an employer makes available to help employees pay for coverage or eligible expenses. cannot be used with:

• Employer-sponsored group plans (including COBRACOBRA (Consolidated Omnibus Budget Reconciliation Act). A federal law that allows employees to temporarily continue employer-sponsored health insurance after leaving a job, reducing work hours, or experiencing other qualifying events. Employees typically pay the full premium cost plus an administrative fee.)
• Individual and family plans with tax credits or subsidies
• Retiree health insurance plans (like one through a former employer)
• Medicaid or other government-sponsored plans

Your Thatch allowanceallowanceThe amount an employer makes available to help employees pay for coverage or eligible expenses. is for your health premiumspremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. and can't cover premiumspremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. for dependents under a separate group plan. For example, you can't use your allowanceallowanceThe amount an employer makes available to help employees pay for coverage or eligible expenses. to reimburse out-of-pocket payments toward a spouse's employer-sponsored plan.

However, family plans under individual health coverage may qualify — like a family IFP purchased through the marketplace or directly from an insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider..

Set up BYOP on Thatch

Step 1: Share your plan details during account setup

During onboarding, click Already have a plan or want to purchase a plan yourself? and follow the prompts to enter your plan information. Once you've completed onboarding, you'll have full access to your dashboard, including your Thatch card details and the Reimbursements section.

Step 2: Set up payments

Make your first premiumpremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. payment to your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. and set up autopay to avoid missed payments going forward. You have three options:

• Thatch card — pay your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. directly or set up autopay using the card details in the Cards section of your dashboard
• Thatch bank account — use your account and routing number to set up autopay with your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider.
• Personal payment method — pay out of pocket and file for reimbursement

If you selected a reimbursements-based payment arrangement during setup ("I'll pay for my health insurance myself, then submit receipts to be reimbursed by Thatch"), your Thatch card details won't appear in your account — you'll pay your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. with a personal payment method and then file for reimbursement.

Step 3: Manage your plan

On your Transactions page, you'll see your monthly allowanceallowanceThe amount an employer makes available to help employees pay for coverage or eligible expenses. disbursed on the 1st, along with a hold for each monthly premiumpremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. payment. The hold transactions aren't payments to your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider. — they show that your employer allowanceallowanceThe amount an employer makes available to help employees pay for coverage or eligible expenses. transferred to your Thatch card or bank account so funds are ready to cover your premiumpremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month.. You still need to log in to your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider.'s portal to make the actual payment.

Log in to your insurance companyinsurance companyThe company that provides insurance coverage. Also called an insurance provider.'s member portal to make your first premiumpremiumThe monthly amount paid to maintain health insurance coverage, regardless of whether any services are used that month. payment and set up autopay as soon as possible — it keeps your coverage active and prevents any risk of lapse.

warning

Missing payments will cause your coverage to lapse. Set up autopay using a Thatch payment method so your payments go through automatically each month.