Health Reimbursement Arrangement (HRA)
HRAs are employer-sponsored benefit plans that allow you to set aside pre-taxed income to help pay for medical expenses that can happen throughout the year.
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The HRA gives employees more health coverage choices while at the same time decreasing employer cost. We assist in designing a plan to fit employer business goals, and it can be attached to the health plan or used for retirement. Employers finance 100% of the HRA and the contribution is entirely tax-deductible. The employee benefits from the non-taxable reimbursements that provide a bridge between out-of-pocket expenses and insurance coverage.
The Plan Design is Flexible
- Contribution amounts and terms (lump sum or incremental)
- Covered items (may include non-payroll deducted premiums such as long-term care insurance)
- Carry-over possibilities (for future medical expenses, COBRA premiums, retiree health coverage)
- Reimbursement schedules
Our Technology Empowers
- Multiple plans on the same Prepaid Benefits Card
- Secure online real-time reports
- Online claims submission and easy to navigate website
- Chard Snyder mobile app for anytime, anywhere account access