Health Reimbursement Arrangement (HRA)
HRAs are employer-sponsored benefit plans that allow employers to help their employees with medical expenses that happen throughout the year.
Health Reimbursement Arrangements (HRA) are employer-funded plans that allow more health coverage choices for employees while decreasing employer costs. HRA plans are very flexible and can be used to help employees pay for eligible healthcare, wellness or lifestyle expenses. Employers choose how much to contribute, the types of expenses that will be covered, and when funds will be available.
HRAs are fully funded by the employer. The contributions are tax deductible, and the benefits are tax-free for employees. HRA plans can help ease the transition to a High Deductible Health Plan (HDHP). These tax-free benefits can also be great rewards for an employee wellness incentive program.
Our expert team works with employers to design an HRA plan to increase employee satisfaction and benefit everyone financially. We’ll ensure the plan is easy to use and understand.