What are the Benefits of an HRA?
Offset the ever increasing cost of healthcare by adding a Health Reimbursement Arrangement (HRA), to your consumer driven healthcare strategy. HRAs help save money in three ways:
First, you can integrate HRAs with your health insurance coverage and enjoy a typical premium savings of up to 20% by offering a high-deductible health plan (HDHP) versus a standard health plan.
Second, it helps your employees understand the “true” cost of healthcare that ultimately encourages them to spend their dollars and yours more wisely.
Third, a Health Reimbursement Account is a tax-advantaged program, so reimbursements for eligible expenses are tax-free for the employee and can be written off as a business expense by you.
Not sure how to get started? It’s simple. With an HRA from Flex you get peace of mind knowing that we are here to guide you every step of the way – saving you precious time and energy. As an HRA Administrator, Flex offers a first class experience for you and your employees that puts you in control and includes:
- Faster reimbursement of eligible expenses
- Automated, simplified claims processing with numerous health, dental and vision plans nationwide (contact Flex for details)
- Secure web site with online claim submission, real-time account information, flexible reporting options and more
- New, user-friendly mobile app