Health Accounts
5 Myths About Pre-tax Benefit Accounts
Whether you are a participant exploring your benefit options or an employer preparing a benefits package, you may have formed certain myths about pre-tax benefit
January 25, 2024
A Health Reimbursement Account (HRAs) is an employer-funded account designed to assist employees in paying for certain out-of-pocket medical expenses. HRAs offer flexible plan design for an employer to meet a variety of needs. With the passage of Health Care Reform, HRAs must generally be provided in conjunction with a major medical plan and are often offered in conjunction with high-deductible, low premium health insurance plans for a total savings in health care costs.
The Beniversal HRA leverages the proprietary technology of the Beniversal®Prepaid Mastercard® for health care payments, along with streamlined online and mobile administration options, to provide a comprehensive, service-oriented administration solution.
*Actual adjudication rates will vary based on the health plan options and adjudication methods utilized.
Whether you are a participant exploring your benefit options or an employer preparing a benefits package, you may have formed certain myths about pre-tax benefit
After much consideration, you’ve made the wise decision to enroll in a pre-tax benefit plan. As a new plan participant, you will experience significant savings
Health reimbursement arrangements, health reimbursement accounts, section 105 plans or simply HRAs – these are all different names for the same benefit. Given that just its
There are many potentially complex nuances on an HRA, but there doesn’t need to be. We would love to hear from you and help you determine the best HRA plan design to meet your current and long term goals.
