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Health Reimbursement Arrangements (HRAs) are employer-funded dollars that can be used to reimburse employees for the purchase of qualified medical expenses such as health and dental plan premiums, co-pays, deductibles, vision care and prescriptions. Often, employers use HRAs in conjunction with a high deductible/co-pay health plan. 

A key benefit of HRAs is that unused amounts can be rolled over to future years, as recent IRS clarifications allow an unlimited accumulation in the employee accounts. Additionally, HRA funds are tax-deductible to an employer and are not treated as taxable income to employees. Contributions to an HRA are not treated as taxable income to the employee, and are tax deductible to the employer.

Altus Benefit Administrators can manage all aspects of an HRA plan, from choosing the right funding option to keeping companies in compliance.  Our comprehensive HRAs include:

• Creating a company’s plan documents and Summary Plan Description
  
• Assisting with employee communication
  
• Collecting employees’ receipts for eligible expenses
  
• Verifying eligibility and reimbursing the employee