Health Reimbursement Arrangements (HRAs) help employees pay for out-of-pocket medical expenses for themselves and their covered dependents. The sponsoring employer chooses the amount available each year and the eligible expenses. Below are answers to common questions about these tax-advantaged accounts. Frequently Asked Questions What is a Health Reimbursement Arrangement? An
Health Reimbursement Arrangements (HRAs) are employer-sponsored plans that reimburse participants for qualified expenses. These accounts are entirely funded by the sponsoring employer. Let’s learn more about HRAs by looking at plan facts like qualified expenses, taxes, and more. Generally, there are no limits on employer contributions to regular HRA plans.
This article explains the differences between three types of consumer-directed healthcare (CDH) benefit accounts: Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs). It summarizes their funding sources, contribution limits, eligible expenses, portability, and other key features, highlighting their unique advantages and tax benefits.
” An Individual Coverage Health Reimbursement Account, or ICHRA, is a special type of HRA that employers can use to help employees obtain health insurance coverage without the need to offer a group health insurance plan. Watch this video to learn more about ICHRAs! Captain Contributor – Benefits Super Hero Captain Contributor
From hayrides and warm apple cider to Halloween festivities and Thanksgiving homecomings, people look forward to Fall. But the return of cooler temperatures also brings an increase in hay fever and a rise in cold and flu rates – and there could be another COVID wave. When you sneeze or
During the pandemic, the use of debit and credit cards has soared. A 2021 MarketWatch analysis found that debit card transaction volumes continue to surge, while growth in credit transactions has remained essentially flat. Always a possible addition to tax-advantaged benefit accounts, debit cards have increasingly become a benefits “must
Employers have been helping employees with healthcare costs since employer-sponsored insurance coverage began about 80 years ago. But just as healthcare costs have risen, the costs of insurance and healthcare benefits have increased as well. Small businesses have always found it financially challenging to offer group benefits to their employees.
New preventive care and screening guidelines aimed at reducing out-of-pocket expenses for women, infants, children, and adolescents were recently announced by the Health Resources and Services Administration (HRSA) of the U.S. Dept. of Health and Human Services (HHS) The new guidelines take effect for plans starting in 2023. Under the Affordable
With one in five U.S. adults experiencing some form of mental illness in any given year, the need for mental health care impacts many families. Yet, according to the National Alliance of Mental Illness (NAMI), 55 percent of adults and 49 percent of children ages 6-17 with a mental illness don’t
” An HRA, or Health Reimbursement Arrangement, is an employer-sponsored benefit account funded ONLY by the employer. It allows employees to pay for qualified healthcare expenses. Learn more! Captain Contributor – Benefits Super Hero Read Comic Book Read Fact Sheet Captain Contributor Benefits Debit Card Comic Captain Contributor Benefits Debit Card Fact Sheet
