Businesses are increasingly looking to Health Reimbursement Arrangements (HRAs) to offer health benefits tax-free while gaining far better control over monthly costs. Not only can an HRA allow an employer to recruit and retain employees, many employers even offer health benefits to 1099 contractors using an HRA.
Whether a business already has an HRA in place, or they are looking to set one up, knowledge is key. Through our employee benefits blog, our free whitepapers and guides, and our dedicated support team, we strive to be the knowledge base for all things Health Reimbursement Arrangements.
What's Covered Under an HRA?
Today, we're publishing the latest rendition of the guide to HRA Eligible Expenses for 2012. This free download can serve as a reference for benefits administrators researching HRAs, as well as those with established HRA plans who may wish to review their setup.
It's important to note that, within IRS guidelines, employers can customize an HRA to fit their particular needs. For example, they may decide to use an HRA for dental expenses only, or to give managers more coverage than seasonal workers. A businesses' individual HRA Plan Document should always be referenced for a specific company's plan coverage.
So, what's covered under an HRA? The list ranges from acupuncture, ambulance and birth control to eye exams, operations, and transplants. It's almost equally important to observe expenses that are NOT qualified, which are also included in the free download.