Learn More About New Health Coverage Options

What is an Individual Coverage HRA?

There are more ways than ever to contribute to your employees’ health care costs! The individual coverage health reimbursement arrangement (HRA) is a new way to provide your employees tax-preferred funds to pay for qualified medical expenses, including the cost of health insurance coverage purchased in the individual market. With an individual coverage HRA, employers can help their employees pay for qualified health insurance costs—such as monthly premiums for individual market plans—through a non-taxed reimbursement. This allows employers the ability to better control costs, while providing employees the flexibility they need to pick an individual health insurance plan that is right for them and their families.

You can also sign up for our monthly HRA 101 and 201 Webinars here. We’ll provide an overview of HRAs and explain the new opportunities they can provide to your business and employees. Don’t miss your chance to learn more about this new health care coverage option available to employers of all sizes! Need help? Talk to a licensed tax professional, benefits specialist, or a registered agent or broker to find out more about whether an HRA or traditional group coverage is right for your business.