HRAs, or Health Reimbursement Arrangements, are the newest and most convenient way for small business owners to provide tax-free health benefits to their employees without dealing with the hassle of a “one-size-fits-all” style group plan.
HRAs allow employers to set a budget for their benefit program. Your employees can then choose any health insurance plan they like and submit claims for reimbursement for things like insurance premiums and medical expenses. Any money from your HRA budget that isn’t spent stays in your pocket!
There are two types of HRAs for employers to choose from: ICHRAs and QSEHRAs.
Watch the next video for a brief intro to QSEHRAs, or explore the resources below for more information:
Friendly Disclaimer: This information is general in nature and is not intended to provide legal advice or replace individual guidance about a specific issue with an attorney or HR expert. The information on this page is general human resources guidance based on applicable local, state, and/or federal U.S. employment law that is believed to be current as of the date of publication. Note that CEDR is not a law firm, and as the law is always changing, you should consult with a qualified attorney or HR expert who is familiar with all of the facts of your situation before making a decision about any human resources or employment law matter.
A Blog Written by CEDR, written by HR Experts to help you run your practice.
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