HRA Plan Types: What’s Right for Your Company?

With new legislation over the past few years, Health Reimbursement Arrangements (HRAs) are getting increased attention from employers. New HRA plan types now feature expanded eligible expenses, funding options, and insurance requirements, and can be another affordable option for companies looking to enhance their benefits. Learn more about HRAs below. What is an HRA?   … Read more

HRA vs HSA – What’s the Difference?

Do you know the difference between a Health Reimbursement Arrangement (HRA) and a Health Savings Account (HSA)? While they sound similar, they are actually quite different. Let’s cover the similarities first. As part of consumer directed healthcare, the purpose of both an HRA and an HSA is to make healthcare more affordable for workers and … Read more

The Summary Plan Description – An Explanation

Summary Plan Description

If you sign up for healthcare benefits through your employer, you have access to your company’s Summary Plan Description (SPD). In short, the SPD provides important details about your benefits plan and how the plan works. An SPD is required by law and must define when employees become eligible to participate in the plan, how … Read more

Health Reimbursement Arrangement FAQs

HRA FAQs, questions in meeting

The following guide provides answers to frequently asked questions about Health Reimbursement Arrangements (HRA FAQs). A Health Reimbursement Arrangement (HRA) is part of consumer driven healthcare, allowing participants to use set aside money to pay for out-of-pocket medical expenses for themselves and their families. While HRAs have the same basic legal guidelines as other types … Read more

2018 Healthcare Trends: What’s In Store for Healthcare Consumers

With the start of a new year, we can’t help but wonder which healthcare trends are in store for 2018. Coming off an interesting 2017, the next twelve months looks to be even more exciting. This year, attempts to manage escalating insurance and medical costs are at the center of industry trends. Contributing to the … Read more

Healthcare Consumerism: What is it and How Does it Affect Healthcare?

Healthcare consumerism, a movement designed to refine the efficiency and affordability of healthcare services, is working to change how people prioritize their personal healthcare. Imagine a system where savvy patients use their knowledge to take a more active role in purchasing and utilizing healthcare services. Healthcare consumerism is getting closer to making this a reality. … Read more

Can Employees Have HRAs and HSAs at the Same Time?

Healthcare spending accounts, such as Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs), help individuals and families pay for medical expenses. They also provide more control over how and where to pay for those expenses. Some employees have the opportunity to have both an HRA and an HSA, either through their own employer or … Read more