BackHealth Reimbursement Arrangement
A HRA is a type of Medical Reimbursement Plan funded by employer contributions only as an account for reimbursement of deductible or out-of-pocket medical expenses; funds rollover at the discretion of the employer. An HRA is sometimes offered in conjunction with an HDHP.
As an Employee what are the advantages to participating in a Health Reimbursement Arrangement?
If paired with a High Deductable health Plan, the employee sees a reduced health insurance premiumThe employer sponsors funds that may be accessed to pay medical expenses that are prior to the insurance deductible being met.Based on plan design the expenses that may be reimbursed include: deductibles, co-payments, coinsurance, prescriptions, vision, and dental expenses.All HRA funds contributed to the employees are pre-tax.