Health Reimbursement Arrangements:
Help with Out-of-Pocket Costs, Funded by Your Employer
Imagine taking your dog for a walk when it suddenly turns into a mad dash after Rusty chases a squirrel. You slip and sprain your ankle, leading to unexpected healthcare costs.
Wouldn't it be nice to have a little help? One tool to help you manage healthcare costs is a Health Reimbursement Arrangement (HRA). It's a reimbursement account that your employer funds and it can offset out-of-pocket expenses like deductibles, copays, and prescriptions. Your employer may reimburse your account on a schedule or as needed throughout your plan year.
Types of HRAs
There are multiple kinds of Health Reimbursement Arrangements. Your employer may offer one of the following:
- Comprehensive HRA: Covers all eligible out-of-pocket medical expenses.
- Deductible HRA: Covers only items that apply to your health plan deductible.
- Retiree HRA: Covers all eligible out-of-pocket medical expenses and/or reimburses eligible insurance premiums for retirees.
- Limited Purpose HRA: Works in conjunction with a qualified High Deductible Health Plan and Health Savings Account to reimburse eligible dental and vision expenses.
Features
Connect with your American Fidelity account manager to learn more about HRAs!