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Health Reimbursement Account (HRA)

SAVE MONEY ON HEALTHCARE EXPENSES

Now, more than ever, healthcare dollars need to go further. With a Health Reimbursement Account (HRA), they can. HRAs are fully-funded by the employer and designed to help employees pay for medical expenses that may not be covered by insurance.

HRA Services

Due to multiple plan design options, HRAs are an attractive way to help control costs and meet the specific needs of both the employer and its employees. Money contributed by an employer to an HRA will not be considered income to the employee (tax-free) and is tax deductible to the employer.

 The funds can be used throughout the year on an array of eligible expenses dictated by your company’s specific plan design.

HRA ADMINISTRATION SERVICES:

  • Flexibility in plan design (front-end deductibles, carryovers, prescription and/or dental only, etc.)
  • Preparation of Plan Document, Summary Plan Description (SPD), and Summary of Benefits and Coverage (SBC)
  • Employee enrollment materials
  • Debit card options*
  • Easy claim submission (online, mobile app, or by mail)
  • Claims adjudication with weekly participant reimbursement processing
  • Secure online platform with access to real-time data for both the employer and participants
  • Maintenance of required records of claims & reimbursements
  • Non-discrimination Testing (upon request)


*not all plan designs are appropriate for a debit card

ADDITIONAL SERVICES:

• FSA Shopping Tool

• POP Documents

• Wrap Documents

• Non-discrimination Testing

A Comparison of HSAs, HRAs, and FSAs


PLAN COMPARISON CHART
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