Giving employers more say in how HRAs work, with more options than other health spending accounts.

EBI Helps Employers Expand Coverage Options for Their Employees With Health Reimbursement Arrangements (HRAs)

With the help of Employee Benefits International, your business will have more say in how your HRA works. EBI will help you structure an HRA that meets your unique goals and objectives and project the cost to your organization. A traditional Excepted benefit HRA is a type of health spending account provided by and owned by the employer. The money in the account pays for a participating employee’s, and in some cases dependents, qualified expenses. Common expenses include medical, pharmacy, dental and vision, as determined by the business owner (employer).

As of early 2020, a new type of HRA was made available called the Individual Coverage HRA or “ICHRA”. Employers of all sizes may offer to reimburse their employees for some of the cost of buying individual health insurance plans instead of offering group health insurance.

Individual coverage HRAs can also pay employees back for qualified medical expenses such as coinsurance and deductibles.

Employers who continue to offer group coverage may also offer their employees excepted benefit HRAs to reimburse employees for qualified medical expenses, but not for comprehensive health insurance premiums.