Health Reimbursement Account (HRA)
A health reimbursement account (HRA) is a tool designed to allow employers to reimburse employees for certain medical expenses. In turn, employers can enjoy a tax incentive for each payment made, helping to redress the cost of providing overall health benefits.
Initially, many employers and employees balk at the generally higher deductibles involved with a medical reimbursement account. But, once they realize all unused funds can be rolled over year after year, they begin to understand how powerful and cost-effective a health reimbursement account can be.
A medical reimbursement account places a premium on preventive care. Consequently, it covers 100% of the costs related to:
- Routine Physicals
- Immunizations
- Regular Health Screenings
At Main Street Insurance, we can help you find a medical reimbursement account that meets the needs of your company and your employees.
The advantages of HRAs include:
- Tax-deductible claims for employers
- Roll-over of HRA funds year after year
- Employees need not be enrolled in another health care plan to qualify
- Flexible reimbursement plans to meet the specific needs of employees
To learn more about your health reimbursement account options - their benefits and drawbacks - speak to one of the dedicated agents at Main Street Insurance today.
Give us a call at 877.539.7750 or simply fill out the form on this page for more information.