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EMPLOYER FUNDING TO PROMOTE ECONOMICAL HEALTH CARE

Beniversal health reimbursement accounts (HRAs) offer employees a more active role in health care decisions

The basics
Beniversal 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 care
Because 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 spend
With 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 account (FSAs) which allow employees to contribute tax-free money toward their medical expenses.

Technology brings convenience and simplicity

Beniversal MasterCard

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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