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.
480 E. Winchester St. Suite 230 — Salt Lake City, UT 84107
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. PeopleKeep, Inc. does not sell health insurance.