Health reimbursement arrangements are employer-funded accounts that reimburse employees for qualified medical expenses they’ve paid for out-of-pocket. Employers set up an HRA, determine the amount of money available to each employee for a coverage period and establish which expenses the funds can be used for.
But there’s a lot more to understand when it comes to HRAs, like:
- what are the benefits;
- who is eligible;
- how contributions and distributions are made; and
- what medical expenses are eligible?
Download our recent Know Your Benefits articles Understanding an HRA and Examples of Eligible Expenses to get all the answers and more.
For more information about employee benefits, our services and products, contact HBS by email or call 800.388.1963.
These Know Your Benefits articles are provided by HANYS Benefit Services and are to be used for informational use only and should not be construed as professional advice. © 2022 Zywave, Inc. All rights reserved.