Health Reimbursement Arrangement (HRA)
Health Reimbursement Arrangements (HRAs) are defined contribution arrangements that, when coupled with a group health plan, can provide employers significant savings on health care costs and reduce healthcare premiums. An HRA is an employer owned and funded vehicle that allows employers to set aside tax-free money for employees to use for health care expenses.
HRAs provide employers savings & flexibility:
Reimburse as you go; no pre-funding required
Rolling funds over year-to-year is optional
24/7 online account access
BPC claims processing technology gives employers options: data feed, mail, fax, web and mobile app
As your HRA administrator, we will:
Design an HRA plan that meets your organization's goals and IRS guidelines
Work with the health insurance agent and provider of your choice
Prepare the HRA plan document and Summary Plan Description, enrollment and claim forms
Process claims and administer the day-to-day operations of your HRA
Contact us to learn more about how an HRA can enhance your benefits offering, producing significant healthcare savings and reduced payroll taxes.