Health Reimbursement Arrangements
Create an employer-funded HRA that complements your company’s benefit program. From unrestricted reimbursement options to plans that reimburse only specific expenses, HRAs provide flexibility and offer you creative ways to reduce your overhead.
This type of plan design reimburses deductible expenses under a health insurance plan, thereby filling the “gap” between employees’ out-of-pocket expenses and their insurance coverage.
Like the name suggests, an unrestricted HRA design has no restrictions. This plan reimburses the same expenses as a Health FSA, including co-pays, glasses, orthodontia and prescriptions.
Under this design option, reimbursement is limited or restricted to specific expenses, such as vision, dental or prescription drug copays.
Give employees a benefit that reimburses healthy lifestyle expenses, like gym memberships and wellness subscriptions. A LifeStyle reimbursement plan can be integrated with your health insurance coverage, or it can be completely separate. And, account balances can be funded with dollars that are accrued based on certain tasks, such as completing a health survey. Design a plan that incentivizes employees to make healthy choices and lower their overall healthcare costs.
Because HRAs are completely employer-funded, you decide what happens to unused funds at the end of the plan year. Choose from two options.
With a refill option, you can set up your HRA plan so that accounts are replenished on an annual basis. This means that unused funds do not roll over for employees, and whatever is left over goes back to the employer at the end of the plan year.
A rollover allows unused balances to roll over year-to-year. With this option, employees can opt to save their balances and use their plan for future expenses.