The market is experiencing a large increase in HRA (or health reimbursement account) plan adoption, with many creative plan rules.
An HRA is an IRS-approved health benefit plan that reimburses employees for insurance premiums and out-of-pocket medical expenses.
Employers provide 100% of employees’ HRA funding.
Only employers can contribute to an HRA.
According to the IRS, employers own HRAs.
If an employee leaves the company, retires, or is terminated, their funds remain with the company. However, there is a 90-day period during which employees can submit reimbursement requests for qualifying expenses incurred during their employment.
Learn more by viewing the Eligible Expenses List.