What is a HRA?
A Health Reimbursement Account (HRA) gives employees the opportunity
to manage their health care expenses in partnership with their
employer. Designed to offset the cost of a high-deductible health
plan, an HRA is an arrangement where the employer reimburses the
employee for health expenses not covered by the health plan.
How It Works
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- Employer sponsors a high deductible health
plan with the employer covering a portion of the deductible
(10-30% savings on the medical premium)
- The employer reimburses the employee a
predetermined amount of money for qualified health expenses
not covered by the group health insurance plan such as deductibles
- Employer funded, employer owned, rollover
at employer's option