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Foundations of a Health Reimbursement Account (HRA)

5/26/2014

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HRAs deliver numerous benefits to both employers and employees, along with a few downsides. In all cases, HRAs help offset healthcare costs by using pre-tax dollars.                                                     

Critical HRA Components
  • Funded by employers,
  • Employers set parameters with the ability to change contributions at any time,
  • Unused funds remain with the employer without “following” employee to new employment situations;
  • Employees reimbursed for “approved” medical expenses; and
  • No minimum or maximum contribution levels for employer contributions.


Some Benefits of HRAs
  • Distributions can be made to current or former employees;
  • Spouses and dependents can receive reimbursements;
  • Employers are not mandated to prepay monies into the fund;
  • Employers can define “qualified medical expenses;”
  • Employer contributions are excluded from gross pay of employees;
  • Reimbursements of qualified medical costs are tax-free.


If you are considering establishing an HRA for your business in or around Sonoma County, California, contact Sackett & Associates Insurance Services. We have been serving Northern Bay Area individuals and businesses for their health insurance needs for over 30 years. Sackett & Associates Insurance Services offers valuable and free quotes for you and/or your business to find affordable, effective healthcare solutions.

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  • Home
  • About
  • Services
    • Individual Insurance >
      • Covered California Health Insurance
    • Small Business Health Insurance >
      • Group Insurance
      • Employee Benefits
    • Medicare
    • Providers >
      • Kaiser Health Insurance
      • Sutter Plus Health Insurance
      • Anthem Blue Cross Health Insurance
      • Blue Shield Health Insurance
      • Health Net Health Insurance
      • Western Advantage Health Insurance
  • Request Quote
  • Resources
    • Forms
    • Payments
  • Blog
    • Subscribe
  • Contact