The October 2018 proposed HRA regulations by the Department of Labor, IRS and Health & Human Services were published in their final form on June 20, 2019. The regulations offer two variations of Health Reimbursement Arrangements; the Individual Coverage HRA (ICHRA) and the Excepted Benefit HRA (EBHRA), and will be available for plan years beginning on or after 1/1/2020.
A Health Reimbursement Arrangement is an employer-funded benefit that can be used to repay employees for uninsured medical expenses. For the new HRA designs, various conditions apply. For a detailed explanation regarding both options, click here for an FAQ sheet made available by the Departments of The Treasury, Labor and Health & Human Services.We will continue to update you as more information becomes available.