Health Reimbursement Accounts
Health
Reimbursement Accounts (HRAs) are tax-favored programs
funded by employers to reimburse employees for qualified
out-of-pocket medical expenses up to a specified dollar
amount per year.
High Deductible
Health Plans
HRAs are often used in conjunction with a
high-deductible group health insurance policy.
The employer realizes a cost savings by paying a
lower premium for the higher deductible policy.
The employer’s annual contribution to the HRA is
often set at about one-half of the higher
deductible, so the employee has some limited
exposure for medical expenses that will not be
covered by insurance or the HRA. It is this
limited exposure--an out-of-pocket cost to the
employee--that will make the employee a more
careful consumer of medical services.
Services We
Provide
As the administrator of your Health
Reimbursement Arrangement (HRA), Klais & Company can provide the following services to
you and your employees:
- Plan design and consultation
- Plan and claims administration
- Employee meetings, brochures, and plan
documents
- Employee access to HRA with Benny™
PrePaid Benefits Card
If you are interested in learning more about
Health Savings Accounts, please contact our
Marketing Department at (330) 867-8443, or
submit your inquiry through our "Request
Information" option on this site.
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