an overview

How our Beniversal™ health reimbursement account plans work

IRC Section 105(h) Plans allow employers to set aside tax-free funds for employee medical expenses not covered by insurance. Employees do not contribute to HRAs. Although not required, HRAs are often offered in conjunction with high-deductible, low premium health insurance plans for a total savings in health care costs.

Employees may pay for their eligible medical expenses with a Beniversal MasterCard® card or be reimbursed by submitting a claim form.

Beniversal Health Reimbursement Account

Employees can pay for a wide range of out-of-pocket medical expenses with tax-free dollars. Eligible expenses include:

• co-payments
• deductibles
• prescription drugs
• dental care
• vision care, eyeglasses, contact lenses
• chiropractic care
• psychological counseling
• over-the-counter items

See a list of some eligible over-the-counter items.

The Mechanics of Tax-Free Accounts

The employer decides how much money it will allocate toward each employee's HRA. The employer sends employee records to Benefit Resource. We issue a Beniversal MasterCard to participants who opt to receive one, and then track expenditures to be sure they are eligible. We handle payment of all Beniversal charges, and / or reimburse employee claims via a check or directly into an employee bank account.

Simple Monitoring

Employees can go online 24/7 to see the status of their accounts. Employers can go online to see track usage of HRAs as well.

Questions? Contact us.