Health Reimbursement Arrangement Overview
Help Your Employees Save With Employer-funded Health Accounts
Health reimbursement accounts (HRAs) are employer-funded tax-advantaged accounts, designed to help employees save money on the high costs associated with healthcare.
By setting aside a specific amount of pre-tax dollars in an HRA, employers help their employees offset expensive medical bills and provide them with an “allowance” to use should an expense occur.
Perks of the Plan:
• Rich benefits for employees.
• Decreased premium costs for employers.
• Seamless payment—claims automatically sent to London by insurance carrier.
• Wellness incentives—ability to apply HRA funds if member completes wellness programs.
• Flexible plan designs—ability to customize HRA plan design to accomplish employer’s financial and benefit goals.