HRA Administered by NueSynergy

The NueSynergy Health Reimbursement Arrangement (HRA) is an employer-funded, tax-advantaged account that can be designed to the specific needs of an employer and its employees.

NueSynergy works with employer clients and their agent to implement the HRA plan that helps manage the organization's overall health care costs while providing employees with a valuable benefit that assists them in paying their out-of-pocket medical expenses.

Traditional HRA

Each plan year, the employer determines the HRA contribution amount and sets both the threshold for when funds are available, as well as what expenses will be considered eligible for reimbursement.

For example, an HRA could pay all eligible medical expenses, including deductible and co-insurance expenses, or the HRA could be limited to cover only dental or vision expenses.

Individual Coverage HRA (ICHRA)

An ICHRA is an arrangement under which an employer of any size provides its employees with reimbursement funds to help cover the cost of individual insurance premiums. The employer determines the reimbursement amount that will be provided for the plan year.

An ICHRA gives employees the flexibility to select the health insurance coverage that works best, while the employer helps cover the cost of the monthly premium. To be eligible for reimbursement employees must be enrolled in an individual health insurance coverage.

While both an employer health plan and an ICHRA can be made available to employees at the same time, there are restrictions when both are offered. Contact NueSynergy to learn more.

Qualified Small Employer HRA (QSEHRA)

An QSEHRA is an arrangement under which an employer with fewer than 50 full-time employees can offer an HRA contribution to employees for premiums. Employees must be enrolled in an individual health insurance plan that meets Minimum Essential Coverage (MEC) requirements to be eligible.

The employer can vary allowance amounts by family status, age, and family size. These amounts cannot vary based on employee classes. All full-time employees are eligible - and the employer may include part-time employees as well - but the HRA must be offered on same terms to both classes.

A QSEHRA is not allowed to be offered if an employer health plan is available. In addition, employees participating in the plan can still receive premium tax credits, but the amount they receive is reduced from HRA allowance. Contact NueSynergy to learn more.