The Health Reimbursement Arrangement (HRA)
The HRA, also known as a Defined Contribution Plan or a Personal Care Account, allows an employer to fund an account to repay the employee for unreimbursed medical expenses. Unlike a Flexible Spending Account, the HRA permits unused funds to be carried forward to the next year.
High Deductible Health Plans coupled with an HSA or HRA is a viable option for a company due to the favorable IRS opinions on tax treatment for these plans.
A High Deductible Health Plan together with an HSA or HRA will permit your employees to play a greater role in determining how their health care dollars are spent. There are several types of plans available. Let our expert professionals assist you in determining if an HRA is the right choice for your company.
