Health Retirement Account (HRA)
What is an HRA?
The HRA (Health Reimbursement Account) is an employer-sponsored plan to reimburse a portion of you and your eligible family member’s out-of-pocket medical expenses, such as deductibles, coinsurance, and pharmacy expenses.
Your employer has designated a specific dollar amount to credit to the account (either monthly or annual contributions). You choose which out-of-pocket qualified medical expenses you would like to submit for reimbursement. Furthermore, unused account balances roll over to the following plan year, provided your employer continues to offer the program, and you remain enrolled in it. Unspent account balances will roll over to the next plan year, provided your employer continues to provide the program, and you remain enrolled in it.
Your employer puts money into your HRA and you choose how your healthcare dollars are spent.
Routine health care: office visits, X-rays, and lab work.
Hospital expenses: room and board, and surgery.
Medications: prescription and over-the-counter (OTC) drugs when prescribed by a physician
Dental care: cleanings, fillings, crowns
Vision care: eye exams, glasses, contacts
Copays and coinsurance (the portions of health care bills paid by you)
Eligible over-the-counter (OTC) items2 such as: First Aid Dressings and Supplies –bandages, rubbing alcohol
Contact Lens Solutions/Supplies
Diagnostic Products like thermometers, blood pressure monitors, cholesterol testing
Insulin and Diabetic Testing Supplies
The program is fully funded by your employer and is designed to help you pay for out-of-pocket medical expenses.
HRA, QSEHRA & ICHRA Documents Services
Everything is included to set up Health Reimbursement Accounts (HRAs) Qualified Small Employer Health Reimbursement Accounts (QSEHRAs) and Individual Coverage Health Reimbursement Accounts (ICHRAs)
Member Registration Information to Purchase Services
Your employer puts money into your account and you choose how your healthcare dollars are spent.
At the beginning of each plan year, your employer will notify you of the amount they will contribute to your HRA for that plan year.
Yes. All eligible employees must enroll each year during the open enrollment period. Your employer will instruct you on how to complete enrollment.
Yes, as long as your dependent meets the definition of a dependent as defined by the IRS and is included in your employer’s plan.