
John DiMartino
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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