5 Reasons to Choose HRAs

As health care continues to stretch budgets and wallets, many are turning to innovative strategies for relief. Health Reimbursement Account's have been growing in popularity. Here's 5 reasons to choose an HRA:

• It saves you money. For individuals with few regular health expenses, paying a traditional health plan premium can feel like wasting money. HRAs are paired with lower cost health plans, meaning that less money is deducted from your paycheck.

• Employer funds it. An HRA is funded entirely with the employers money.

• Qualified medical expenses. HRAs can be used for copays, deductibles, coinsurance, COBRA benefits, Medicare premiums, and more.

• Preventive Care. Per the ACA, preventive care is covered at 100% by the health plan, meaning that you won't have to use HRA funds for those services.

• Out of Network. It's becoming more common for employees to intentionally, or unintentionally, end up paying for Out of Network care. HRAs help offset those costs.

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