Health Reimbursement Accounts

“Health Reimbursement Accounts (HRA) have become the cornerstone for many consumer-driven health plans.”

Consumer-driven health plans are rapidly becoming a standard benefit offering in employee benefit packages. With soaring health care costs, stretched employer benefit budgets and employee need for control and flexibility in benefit spending, consumer-driven health plans are the right solution at the right time

How does an HRA work?

With an HRA, employers fund individual reimbursement accounts for their employees and define what those funds can be used for, as narrowly defined as one expense, such as a primary care office visit, or as broad a definition as all qualified medical expenses.

The employer has substantial reductions in insurance premiums from the purchase of a higher deductible plan with higher co-pays and shifting from first dollar coverage.  Many employers use the premium dollars saved to contribute to the employee’s HRA account making the change cost-neutral or even possibly providing a savings to both the employer and employee.

Custom Design

Every HRA plan is a custom design.  Frates Benefit Administrators helps design the Plan that is best for you.

Contact Us At 866-304-5628 For More Information