A Health Reimbursement Arrangement (HRA) is an employer-funded medical reimbursement plan. An employer sets aside a specific amount of pre-tax dollars for employees to use to pay for health care expenses on an annual basis. An HRA is known as a Health Reimbursement Account (HRA) or personal care account.
- A versatile employee benefit plan, structured by the Employer
- Employees may use the allocated funds for a wide range of medical expenses not covered by insurance
- Employer contributions are 100% tax deductible
- HRA plans MUST be funded solely by the employer
- A current Summary Plan Description (SPD)
- A Plan document
- The Affordable Care Act (ACA) requires a Summary of Benefits & Coverage or SBC.
EnsuredCompliance® HRA Plan Type Options
- Retirees Only
- Limited Purpose Only
- Qualified Small Employer