Higginbotham

JANUARY 12, 2024

When considering the three main types of health accounts (HRAs, HSAs and FSAs), it’s important to understand their pros and cons before deciding what to offer your employees. What are health accounts? FSAs, HSAs and HRAs can be very appealing to workers and boost your organization’s recruitment and retention efforts.

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PeopleKeep

MARCH 28, 2022

Two commonly mixed-up health benefits are the health reimbursement arrangement (HRA) and the health savings account (HSA). For instance, an HRA is employer-owned and an HSA is employee-owned. While they have similar-sounding names, the two options are different in many ways.

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PeopleKeep

AUGUST 16, 2021

If your employer offers a health reimbursement arrangement (HRA), then you have access to a unique health benefit that empowers you to make your own healthcare choices in ways a traditional group health insurance plan doesn’t. Watch our 5-minute video on how HRAs, FSAs, and HSAs are different. Short on time?

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PeopleKeep

AUGUST 23, 2021

That’s what makes health reimbursement arrangements (HRAs) such an excellent health benefits solution, especially for organizations with a wide range of employees across age and health status. If you’re new to using an HRA, a good place to start is figuring out what kind of health benefits consumer you really are.

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PeopleKeep

AUGUST 13, 2021

That means half of the country doesn’t get to make any real consumer decisions about their health coverage, its cost, or what network they’re in. By offering an HRA, you’re encouraging your employees to be better healthcare consumers, control their own healthcare costs, and put them back in the driver’s seat of their healthcare experience.

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Benefit Resource Inc.

OCTOBER 14, 2021

With Open Enrollment just around the corner, your employer may offer “HRA VEBA” as one of your employee benefits options. HRA VEBAs may not be as common as they once were, but we still have three great reasons for you to consider them. Without further ado, here are three reasons we’re big fans of the HRA VEBA: 1.

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Benefit Resource Inc.

MAY 6, 2021

Depending on where you work, what fills in the blank may vary. For public sector employees, the answer may very well be an HRA VEBA. What is an HRA VEBA? If you want the full description, check out 3 Hidden Advantages of an HRA VEBA. In sum, it’s part pre-tax plan (that’s the HRA ) and part trust fund.

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PeopleKeep

JULY 7, 2021

What’s more, over half of those surveyed said they’re very interested in seeing the federal government expand the number of alternatives to group health insurance. In this article, we’ll go over what HRAs are, the different types of HRAs, and why they work for nonprofit organizations.

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PeopleKeep

DECEMBER 31, 2019

Learn about HRAs. What is a health reimbursement arrangement (HRA)? An HRA is not health insurance. An HRA plan is an excellent way to provide health insurance benefits and allow employees to pay for a wide range of medical expenses not covered by insurance.

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Benefit Resource Inc.

MARCH 23, 2021

If you have a pre-tax account and retirement is on the horizon, you’ll want to understand what happens to the funds in your account(s) once you retire. What happens to funds once you retire? Funds in an HRA. An HRA plan is set up by your employer; they determine the treatment of funds. Funds in an HRA VEBA.

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PeopleKeep

APRIL 9, 2021

A popular health insurance option for small employers is the health reimbursement arrangement (HRA). Through an HRA, employers can reimburse their employees tax-free for qualifying medical expenses such as copayments, deductibles, and even individual health insurance premiums.

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Benefit Resource Inc.

JANUARY 3, 2023

By monitoring how far you’ve come and how much closer you are getting to achieving your goals each day, week or month (depending on what works best for you), it will help keep you motivated and focused on success. It’s that time of year again! The new year is upon us, and with it comes hopes of achieving our goals for the upcoming months.

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PeopleKeep

MARCH 17, 2022

Many employers are transitioning away from traditional group health insurance by offering more flexible health benefits such as a health reimbursement arrangement (HRA) or health stipend. Use the links below to jump to the topic you’re most interested in: What is a health insurance subsidy?

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PeopleKeep

MAY 7, 2021

If you’re setting up a health reimbursement arrangement (HRA) for your organization, drafting a series of plan documents is one of the first requirements the Employee Retirement Income Security Act (ERISA) has for you to follow. One of these documents is the summary plan description (SPD).

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WEX Inc.

MAY 17, 2023

What are the 2024 HSA contribution limits? HSA 2023 2024 Self-only contribution limit $3,850 $4,150 Family contribution limit $7,750 $8,300 What are the 2024 HDHP amounts/limits? The excepted benefit HRA (EBHRA) limits for 2024 will also increase to $2,100. How do HSA catch-up contributions work? With an HSA. Learn more!

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PeopleKeep

DECEMBER 15, 2021

Health reimbursement arrangements (HRAs) are an excellent way to save on your healthcare expenses throughout the year, especially if yours is set up to reimburse not just insurance premiums, but other out-of-pocket expenses. Is it a “use it or lose it” situation, or do HRA funds roll over year-to-year?

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Benefit Resource Inc.

JANUARY 4, 2024

BRIALERTS: Opt-in to real-time account based notifications and never wonder what your current balance is! What expenses and merchants are eligible? When using your pre-tax health accounts (Medical FSA, HRA or HSA), it is important to understand what expenses are eligible and how different merchants will process your transactions.

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WEX Inc.

JANUARY 4, 2023

Health Reimbursement Arrangement (HRA) Generally, your employer must offer you access to your HRA as part of your COBRA coverage. And your HRA funds, depending on the HRA’s plan design, may be eligible to be used to pay for COBRA premiums. The post What happens to employee benefits plans when you elect COBRA?

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Benefit Resource Inc.

APRIL 23, 2019

Then, someone gets this crazy idea: “What if the HRA Account only pays expenses incurred when the sun was shining and stars aligned. As soon as HRA plan design becomes a game, employees are compelled to find ways to “game the system” So, even though HRA Accounts start with good intentions, where do they go wrong?

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Benefit Resource Inc.

SEPTEMBER 29, 2022

Health Reimbursement Arrangements (HRAs) and Voluntary Employees’ Beneficiary Associations (VEBAs) are two types of employee benefits that can offer significant advantages to employers. Let’s get to know more about HRA VEBAs. What is an HRA VEBA? Benefits of an HRA VEBA.

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PeopleKeep

JUNE 30, 2023

A health reimbursement arrangement (HRA) is a great way for employers to provide a meaningful health benefit by reimbursing their employees, tax-free, for qualified medical expenses. Although HRAs are typically easier to manage than traditional group plans, they still come with compliance considerations.

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PeopleKeep

SEPTEMBER 13, 2021

In this article, we’ll answer the top five questions small business owners have about the small business health care tax credit: What are the company size requirements to be eligible for a health care tax credit? What are the average wage requirements to be eligible for a health care tax credit? How much is the health care tax credit?

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Benefit Resource Inc.

APRIL 10, 2023

We previously published a post that addressed two common questions: What is substantiation? In that post, we learned it’s less what you buy, and more where you buy that prompts substantiation requests. Why is it required? We’ll review best practices for part two on this topic to avoid receipt requests. Did You Know?

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PeopleKeep

OCTOBER 20, 2020

Who can administer an HRA, or health reimbursement arrangement ? The short answer is anyone, though it’s important that the administrator understands what the role entails.

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PeopleKeep

NOVEMBER 1, 2021

The individual coverage HRA (ICHRA) is a health benefit for organizations of all sizes to reimburse their employees, tax-free, for individual health insurance premiums and other qualifying out-of-pocket medical expenses. It allows employers to design and customize a health benefit for their employees that will fit their needs.

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Benefit Resource Inc.

APRIL 7, 2021

If you didn’t have a chance to attend our HRA VEBA Webinar Series, you’re in luck. In our first session, we explored four core topics: What is an HRA VEBA? What do you need to know about an HRA VEBA? Where does an HRA VEBA fit into retirement and benefit strategies? What is an HRA VEBA?

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PeopleKeep

FEBRUARY 25, 2022

So what can you do to keep costs affordable while also offering quality benefits? For many employers, health reimbursement arrangements (HRAs) are one of the best options to offset rising healthcare costs and provide employees with tax-advantaged health benefits.

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Benefit Resource Inc.

MAY 12, 2019

HRA or HSA? But, Health Reimbursement Accounts (HRAs) and Health Savings Accounts (HSAs) prove to be a little mind boggling for people. Many people overlook the key benefits, or confuse HRAs and HSAs with FSAs. Rather than guess, we would like to challenge your understanding with a little game called: “HRA or HSA?”.

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WEX Inc.

SEPTEMBER 7, 2023

What you can do: Education is key. What you can do: Ease this fear by highlighting the ways to avoid losing funds. What you can do: Address this concern by emphasizing the savings potential of an FSA. So why are many employees reluctant to participate in FSAs? Let’s take a look.

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PeopleKeep

JUNE 7, 2021

This can make administering your employees’ health benefits, like a health reimbursement arrangement (HRA), just another task to add to your never-ending to-do list. That’s why many small employers look to other solutions for help carrying the load.

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Employment 78

Benefit Resource Inc.

FEBRUARY 26, 2019

Health reimbursement arrangements, health reimbursement accounts, section 105 plans or simply HRAs – these are all different names for the ‘same’ benefit. Given that just its name has complexities, it is no wonder that HRAs are often a challenge for employers (and employees). An HRA plan is an employer-funded benefit.

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PeopleKeep

SEPTEMBER 15, 2021

As renewal season comes around each year, employers everywhere brace themselves for what their new group health insurance premiums will look like in the new year—because chances are, they’ll be higher. Switch to a high deductible health plan with a group coverage HRA as a supplement. Short on time?

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PeopleKeep

JULY 19, 2022

A popular type of health reimbursement that works for organizations of all sizes is an individual coverage HRA (ICHRA). This article will explain what an ICHRA is and the important ICHRA rules organizations should know. If your organization plans to offer an ICHRA, there are some crucial points to consider. Read our ultimate guide.

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PeopleKeep

DECEMBER 31, 2020

If your employer just told you they are offering a new health benefit called an individual coverage HRA (ICHRA) , you probably have a lot of questions. We want to help you understand exactly what an ICHRA is and how it works, and give you the tools you need to decide whether or not you want to participate.

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Benefit Resource Inc.

JANUARY 25, 2021

There are many advantages to HRA Voluntary Employee Benefits (or VEBA) accounts when it comes to pre-tax account options. What is an HRA VEBA? An HRA VEBA is a Health Reimbursement Arrangement where employers place contributions in a trust account on employees’ behalf. Is an HRA VEBA right for your company?

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WEX Inc.

JUNE 5, 2023

What is a QSEHRA? What are the challenges small businesses face with benefits? What employers are eligible to offer one? What expenses are eligible? Another difference is that a QSEHRA is much more flexible than the other HRA’s. Another difference is that a QSEHRA is much more flexible than the other HRA’s.

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PeopleKeep

AUGUST 20, 2020

It’s easy for employers to offer an individual coverage HRA (ICHRAs) to employees located in other states , but is the same true for qualified small employer HRAs (QSEHRAs) ? This article discusses what employers who want to offer a health benefit to a workforce located in different states should know when evaluating a QSEHRA.

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