Health reimbursement accounts (HRAs)For small businesses
HRAs are tax-advantaged accounts funded with employer dollars to pay employee expenses not covered by their health plan. Employers outline what expenses will be covered by the HRA, within the limitations outlined by Internal Revenue Service Publication 969. An HRA can be structured to allow unused funds to carry forward, and employers can deduct the amount of their contributions when employees use the funds. HRA funds are not portable so an employee cannot take their HRA funds to a new employer.
The BlueSaver℠ HRA Solution
The BlueSaver HRA offers employers flexibility and a wide range of options to align the HRA with your organization’s overall health care strategy.
Features of the BlueSaver HRA include:
- Flexible coverage options, including deductible, copay and/or coinsurance, and limited types of expenses1
- The ability to reimburse a percentage of each claim or to include an employee up-front out-of-pocket requirement before the HRA covers an expense
- Easy enrollment based upon medical plan election
- Easy account maintenance and on-demand reporting
- Automated claims rollover
- No-cost debit card option available
1 Because an HRA offers employer-owned funds, there is greater flexibility in what expenses are covered — provided they are considered qualified medical and dental expenses. Refer to IRS Publication 502 for a complete list of qualified medical and dental expenses.