Did you know that HRA plans could give your client the creative solution they need?
A Health Reimbursement Arrangement (HRA) is an employer-funded medical reimbursement plan with a tax-advantaged benefit that allows both employees and employers to save on the cost of healthcare.
The employer sets aside a specific amount of pre-tax dollars for employees to pay for health care expenses on an annual basis.
Based on the plan design, HRAs can generate significant savings in overall health benefits.
Benefits of an HRA plan:
- Control increasing healthcare costs
- Accumulate roll-over of unused funds from year to year
- Savings in lower premiums
- The ability to carve out a plan specific to the client’s needs
HRAs are a creative option to help every employer combat the increasing rates of premiums for health insurance.
An HRA gives employers flexibility in designing a plan to enhance employee’s benefits, have carrier independence that is critical in today’s market, cut your monthly insurance premium expenses to a manageable level and implement an affordable healthcare expense budget.
BPA makes HRAs easy!
HRA plans come in every different size and shape giving your client many different options but also allowing the possibility to make it difficult to understand which option best suits their individual needs.
Our dedicated team makes the HRA design process easier for brokers by lightening the burden of administration tasks and helping you keep up to date on all education and privacy concerns within the HRA plan.
BPA’s deep knowledge in designing creative HRA plans will give you the ability to offer your clients a solution that helps them focus more on their business than the administration of employee benefits.