Traditional defined health benefit plan: A company provides its employees with a defined healthcare benefit -- doctor visits, hospitalization, pharmacy and so on -- at uncertain annual cost. The benefit is administered through an employer-sponsored group health benefits plan.
New defined contribution health benefit plan: A company provides its employees with a tax-free allowance or "contribution" to spend on their own healthcare -- at an annual cost that the company controls. Employers utilize Defined contribution health benefit plans to reimburse employees tax-free for the premiums on their own individual health insurance policies or to reimburse their out-of-pocket medical expenses.
Learn how an HRA works for employers in our latest webinar
Watch the recording today, and learn how an HRA can help your organization.
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