Health Reimbursement Arrangement

Health Reimbursement Arrangement (HRA)

With the rising costs of health care and coverage for your employees, it has become challenging to offer competitive benefits to both recruit and retain the best employees. With benefits continuing to be one of the top aspects listed by employees in relation to job satisfaction1, it is more important than ever to look at new ways of providing these benefits.
An HRA from Advanced Benefits Management gives you a fresh approach to benefit offerings. An HRA is an account funded by you, the employer, which your employees can use for eligible out-of-pocket medical expenses.
These accounts also provide you the benefit of being tax deductible. In addition to that, for your employees, these funds are tax-free when used on eligible medical expenses.
Providing an HRA, coupled with a High Deductible Health Plan (HDHP), results in a cost-efficient plan for employers and empowers the employee to take a more active role in their health care benefits.
Some other benefits of an HRA with Advanced Health Benefits:

• Helps to lowers health insurance premiums to your employees by offsetting HDHP with an account they can use towards those deductibles.
• Promotes a Consumer Driven Health Care approach by putting your employees in control of how you spend your health care dollars. A more involved and invested employee will benefit both you and your employees.

• Allow you to carry over funds year to year.
• Offer flexible plan designs to better fit the needs of your company. You do not have to try to fit into some cookie-cutter plan that was developed.
• Advanced Benefits Management provides everything possible to create an easy to manage program for you. Such things as:
• World-Class Administration and Customer Service.
• Online Access to reports, enrollment materials, and timely information for both you the employer and your employees.
• Convenience of both Direct Deposit and Benefit Debit Cards.

HRA’s with Advanced Benefits Management put you Ahead of the Curve of your competition by giving you the best possible benefits solutions to help recruit and retain the best employees.

1Society for Human Resource Management 2007 Job Satisfaction Survey Report.