Health Reimbursement Arrangements
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 health care 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.
BPC’s HRA Administration Services include designing an HRA plan that meets an organization's goals and IRS guidelines, working with the health insurance agent and provider of our clients’ choice, preparing plan documents, Summary Plan Descriptions, enrollment and claim forms, and administering the day-to-day operations of the plan.
HRAs Provide Employers with Savings and 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: datafeed, mail, fax, web and mobile app
As your HRA administrator BPC 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