What is an HRA?
A Health Reimbursement Arrangement (HRA) is a reimbursement account set up and funded by your employer to help participants pay for covered eligible healthcare products and services not covered by any other source. The employer defines the services eligible for reimbursement from an HRA based on a list of IRS approved eligible expenses. Plan participants should review the Summary Plan Document, provided by the employer, for details on qualified expenses for the plan.
Why would an employer offer an HRA?
An HRA offers certain advantages to employers and employees. By choosing a high deductible health insurance plan, the employer is able to reduce premium payments and save money. The HRA is then established to cover the difference between the former deductible and the new high deductible amount. Ultimately, by coupling an HRA with a high deductible health insurance plan, employers are able to reduce their health care costs in a way that keeps employees happy and places no extra financial burden upon the employees.
How it Works
Because HRAs vary in plan design it is best to review the plan documents or contact us for your specific plan details. However, in general, the eligible employee would simply submit a claim for reimbursement along with an explanation of benefits from their health insurance carrier showing that they had incurred an eligible expense. The employer would then fund the reimbursement of the expense and we would process the reimbursement payment.
What’s Covered?
Because HRAs vary in plan design it is best to review the plan documents or contact us for your specific plan details. However, in general, the employer defines the services eligible for reimbursement from an HRA based on a list of IRS approved eligible expenses. Typically, an employer will reimburse healthcare services like doctor’s office visits and hospital services, and prescription drugs.
Who’s Covered?
In general, the employer determines who is eligible. Because HRAs vary in plan design it is best to review the plan documents or contact us for your specific plan details.
Managing My Account
We believe managing your HRA should be easy and convenient. Proficient Benefit Solutions offers a variety of ways to manage your account, access your funds, and receive communications.
Proficient Connect: Eligible employees enjoy secure access to their accounts through the Proficient Connect online portal and mobile App. View account balances, reimburse through bill-pay, manage beneficiaries, view messages, and more and from any device! Visit the Participant page to find out more.
Direct Deposit Reimbursement: Eligible employees can take the hassle out of check deposit by electing to receive reimbursements by Direct Deposit. Visit the Participant page to find out more.
Communication Options: Eligible employees can elect to receive account balances and important plan reminders through email, text, or both! Visit the Participant page to find out more.