HEALTH REIMBURSEMENT ARRANGEMENT (HRA)

A Health Reimbursement Arrangement (HRA) is an IRS-approved, employer-funded health benefit used to reimburse employees for out-of-pocket medical expenses and health insurance premiums.

An HRAs can cover the cost of individual health insurance premium or can be used as a supplement to group health coverage to assist with deductibles, copays, and other out-of-pocket  healthcare expenses.

ICHRA
An ICHRA is a type of Health Reimbursement Arrangement that allows employers to reimburse their employees tax-free for personal healthcare expenses. It’s similar to a qualified small employer health reimbursement arrangement (QSEHRA), but with higher limits and greater flexibility. (click here to learn more about ICHRAs)

QSEHRA
A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is a health benefit for employers with fewer than 50 full-time equivalent employees. With a QSEHRA, employers reimburse employees tax-free for their medical expenses, including individual health insurance premiums. (click here to learn more about QSEHRAs)

GCHRA
A Group Coverage Health Reimbursement Arrangement (GCHRA, is a type of Health Reimbursement Arrangement (HRA) that is employer-funded and designed to help offset the cost of employee healthcare expenses. GCHRAs are specifically designed for small to midsize employers offering a group health insurance plan, such as a high deductible health plan (HDHP). Offering a HDHP alongside a GCHRA can help bridge the gap between offering a more expensive group plan and minimizing premium costs. (click here to learn more about GCHRAs)

EBHRA
An Excepted Benefit Health Reimbursement Arrangement (EBHRA) is a type of defined benefit plan where the employer provides funds to help cover the cost of COBRA, Dental Insurance, Vision Insurance, and short-term medical plans, as well as out of pocket medical expenses. (click here to learn more about EBHRAs)