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employer funding to promote economical health careBeniversal® health reimbursement accounts (HRAs) offer employees a more active role in health care decisionsThe basicsBeniversal health reimbursement accounts, or HRAs, are benefit plans funded completely by the employer, using tax-free funds. Although it is not required, many employers offer HRAs in conjunction with higher-deductible, lower-premium health care insurance, allowing employees to use HRA funds to pay all or part of the medical expenses not covered by insurance. Setting up a Health Reimbursement Plan is easy, but we are available to consult with you on a plan that will meet your specific needs. Contact us. Challenging the rising cost of health careBecause your employees manage these funds, you'll find them rigorous in seeking out lower-priced alternatives for prescription drugs, dental care, vision care and other services. Even with your company contribution toward deductible expenses, this strategy can offer substantial savings in overall medical coverage costs for your company. Funds roll over into subsequent years; no pressure to spendWith Health Reimbursement Accounts, you can offer your employees the ability to fully or partially carry over unspent funds from one year into the next—and even into retirement. The rollover option also increases responsible spending, as employees feel no pressure to "use-or-lose" their tax-free funds. Creating an employee contribution through flexible spending accounts (FSAs)HRAs can be offered in conjunction with flexible spending accounts (FSAs) which allow employees to contribute tax-free money toward their medical expenses and with health savings accounts (HSAs) which allow tax-free contributions by both employees and employers. Technology brings convenience and simplicity
Give employees on-the-spot access to their tax-free Health Reimbursement Account funds for medical expenses. Employees just present the Benefit Resource Beniversal MasterCard® at a qualified merchant who accepts Mastercard. With just a swipe, the necessary funds for the transaction are deducted from their HRA. No burden on their cash flow, no waiting for cash—especially appreciated when they're at the pharmacist counter at midnight!
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"Stacking" tax-free benefit plans (HRA + HSA + FSA) is becoming more common as companies look for ways to give employees maximum flexibility while holding down the costs of health care. Contact us for the best "stack" for you.
Stay on top of it Our web site allows 24/7 access so you can track account balances. The proof is in the numbers In a recent client survey, more than 95 percent gave our customer service experts exceptional grades for professionalism and courtesy. And 96 percent of our clients said they would recommend us to another employer. It couldn't be easier! See how our Beniversal HRA Plan works. Other ways to manage the high cost of health care Read more about our health savings accounts and flexible spending accounts. |
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