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Health Reimbursement Arrangements (HRAs) are a type of personal account from which employees can pay directly for their medical care. Employers have great flexibility in designing these plans to meet their employees’ needs. Additionally, these plans can be adjusted based on a variety of different factors, such as age, medical risk, or seniority. All employer contributions are tax deductible, and employers can retain any unused amounts. Another benefit to HRAs is that, since 2002, the funds have been allowed to roll over each year and grow tax-free. Contact us to learn more about HRAs and how you can apply them to your employee benefits program.
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