Health Reimbursement Arrangement (HRA) Administration

Health Reimbursement Arrangements (HRAs) are tax-favored accounts that employers can establish for their employees to pay for certain medical expenses for the employee, their spouse and/or dependents.
  • Any employee is eligible (subject to employer-designed exclusions)
  • Can be designed in conjunction with a high deductible health plan (HDHP) to help employees pay their deductible
  • Employers can deduct their HRA contribution
  • Only employers can make contributions
  • Owned by the employer
  • The annual maximum contribution amount is set by the employer
  • Unspent balances can be carried over to the next year if it is designed in the plan
  • IRS non-discrimination rules apply
  • Must have a written Plan Document
  • Participants are required to receive a Summary Plan Description
  • In some cases, Form 5500 is required
  • Summary of Benefits Coverage Statement (SBC) is required

We also offer the administration of Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs).

OUR HRA EXPERTS

Let us exceed your expectations. Contact Naomi Struck at (888) 388-1040 to learn more.

 

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