Voya HRA Administration
A Health Reimbursement Arrangement (HRA) is an employer-funded consumer driven healthcare account that can be used to reimburse employees for employer-defined qualified medical expenses, such as deductibles, incurred under the employer’s medical plan. Employer's benefit from premium savings when employees are offered plans with higher deductibles used in conjunction with the HRA, which minimizes the impact of the employees higher out-of-pocket exposure.
Voya will manage all aspects of your HRA plan, from plan design to reimbursement processing and compliance.
Health Savings and Spending Accounts, including Health Savings Accounts, Flexible Spending Accounts, Commuter Benefits, Health Reimbursement Arrangements, and COBRA Administration offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC).
In partnering with Voya for HRA Administration you can expect:
• Dedicated Account Management, single point of contact for all services
• Phone, Email, Online Chat and Text to Chat access to customer service 24/7
• Employee education and custom communications
• Time-intensive eligibility verification and reimbursement tracking
Compliance and Federal Regulations Monitoring
• Certified in-house Compliance specialists
• Creation of Plan Documents, Summary Plan Descriptions and SBCs
• Verification of expenses in accordance to federal and employer-defined plan rules
Modern Technology & Online Tools
• Secure Employer Portal with training and support
• Secure Member Portal & Mobile account access for employees
• Online and Mobile EOB submission and substantiation
Carrier Direct Claims Feed
Voya receives direct claims feeds from several carriers, eliminating the need for employees to submit for reimbursement. Most claim feeds allow the employer a choice of having the reimbursements go to either the employee or directly to the provider.
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