Health Reimbursement Account (HRAs)

An HRA is another major part of the growing trend toward improved consumer health care responsibility. Companies can elect to use an HRA with a high deductible group health plan to curb premium costs.  They can also be used with a Flexible Spending Account (FSA) to help cover out-of-pocket expenses for the employee.

hsa-chartHealth Savings Account (HSA)

By offering an HSA, you are encouraging and empowering your employees to become informed health care consumers.  An HSA provides your workforce a stake in managing their own health care purchasing and reinforces making better health care decisions.  This may result in lower use of physician visits for minor health issues, resulting in savings for the employee and employer.

An HSA account allows employer and employee contributions and when offered under a cafeteria plan, saves tax dollars. Most importantly, an HSA account is portable – employees keep any unused funds for use in future years and to roll over those funds if they leave the company.