Health Reimbursement Arrangements (HRAs) are a key part of consumer directed healthcare and employer-sponsored benefits. In recent years, HRAs have had renewed interest from both employers and workers with the expansion of HRA plan types. While a standard (group) HRA has been around since the early 2000s, the IRS added three additional healthcare HRAs since 2016. The new HRA plan types include Individual Coverage HRAs, Excepted Benefit HRAs, and Qualified Small Employer HRAs.
Take a look at the infographic below to learn more about eligibility, expenses, and more.
A Health Reimbursement Arrangement (HRA) is a tax-advantaged benefit funded and owned by employers. Depending on the type of HRA, employees can use money from the account to pay for IRS-approved healthcare expenses and health insurance premiums. Receiving benefits from an HRA does not count towards an employee’s income.
Learn more about the different HRA plan types below: