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:
HRAs: The Alternative to Group Health Plans for Small Employers
CEDR’s Employee Health Benefits Guide
