Health Reimbursement Arrangements: HRA Administration Solutions

HRA Administration Services 2018-02-26T16:16:22+00:00

Why HRAs Should Be in Your Benefits Plan

A Health Reimbursement Arrangement (HRA) allows employers to offer company-provided health care benefits while controlling company costs.

HRAs provide many advantages to employers that address current realities:

  • Expenses only accrue when employees access care
  • Premium costs are reduced for high-deductible medical plans
  • Funds are exempted from employer’s payroll taxes, as well as Social Security
  • Employees become more aware of health care costs and how to best to use funds, creating a higher level of benefits engagement

ConnectYourCare HRA Administration provides:

  • Expert support from a team of professionals dedicated to employers’ strategic and day-to-day needs

  • Complete account transparency through detailed online reporting tools

  • Proven implementation methodology and specialists that speed the implementation timeline, accommodate customizations, and earn 100% satisfaction rates from clients

  • Communication kits ease implementation, boost enrollment, and increase employee satisfaction

  • Programs that drive higher employee benefits satisfaction rates and demonstrate clear increases in tax savings

Get Your Demo Now

Claims and Reimbursement Made Easy

Introducing ClaimsAlly

ConnectYourCare’s exclusive ClaimsAlly technology substantially improves the participant claims experience and enhances the HRA solution by optimizing health plan claims feeds, which dramatically improves the speed and ease of the employee’s payment card-swipe process. Best of all: it’s included at no additional charge.

Get ClaimsAlly to experience up to

0%
improvement in previously unadjudicated claims

Based on the results of our pilot program
with a large national defense & security research organization

Learn More About ClaimsAlly

Superior HRA Flexibility & Ease of Use

Our HRA solution offers superior account technology developed with a focus on providing solutions customized to fit your company’s needs.

With a ConnectYourCare HRA, employers control the following plan design features:

Decide which types of expenses are covered for your employee population. Usually, employers choose to cover some combination of: medical only, medical and prescription, or medical and dental.

Types of HRAs

  • General Purpose: Covers all IRS-approved health care expenses. This type of HRA is sometimes referred to as a 213(d) HRA.
  • Medical and Prescription: This type of HRA covers only medical and prescription expenses.
  • Medical-Only: The medical-only HRA covers medical expenses.
  • Member Pay First HRA: For this type of HRA, employees must meet an initial deductible prior to having access to HRA funds. This type of HRA is sometimes referred to as a post-deductible or an out-of-pocket HRA.
  • Limited Purpose HRA: This type of HRA, restricted to vision and dental expenses, is often coupled with a health savings account (HSA).
  • Retirement HRA: Sometimes referred to as an RMSA, this account type is restricted to post-retirement benefits and remains dormant until the employee becomes eligible.

Decide whether HRA funds are forfeited back your company at the end of the plan year, or whether funds “roll over” and remain in the account year over year.

Employers can limit the rollover to either a dollar amount or a percentage of the total account balance.

An HRA may feature uniform coverage, or have funds deposited throughout the year. If the account has uniform coverage, the full annual election amount is available on the first day of the plan year.

Alternately, a “fund as you go” HRA will make funds available to employees on a specific, employer-defined contribution schedule.

Employers maintain control over account “portability” as well as the extension of benefits to spouses, dependents, and survivors of deceased employees.

  • Retirement Portability: Employers can set the amount of HRA funds available at the end of the year that can pour over to a retirement account. The pour over amount is set as a percentage of funds available at the end of the plan year.
  • Termination Portability: If an HRA is designed to be portable, then the account will stay active after employment ends and even into retirement.

“We moved to ConnectYourCare because we needed a better system for monitoring COBRA, a better system for our FSA program, and a platform for our new HRA program. Having a platform that would handle all of these, all-in-one, made things a lot simpler for us, administratively. It’s really now about the technology that helps us be more efficient, move faster, and more smoothly.”

Polly Booher, Benefits Manager, WakeMed
 

Ready to Get Started? We’re Ready to Help

Contact Us

Convenience Employees Love

Connect with Employees - 530px Wide Image

Get Help Educating Employees

We know that communication is an integral aspect of enrollment and ensuring employees are educated about their health account options. That’s why we created 360° Connect – a strategic program designed to simplify things for you, engage your employees, and drive account enrollment through uniquely tailored communication services.

Throughout the lifecycle of the program, we constantly monitor activities to understand what is happening and where improvements can be made to ensure your employees are making the right choices for themselves and their families.

Learn More

FEATURED RESOURCE

Open Enrollment Blueprint eBook

Meeting your benefits open enrollment goals is achievable with a proven approach to employee communications, which we outline in this free eBook.

Get Your Free Copy
Open Enrollment Blueprint eBook

Did You Know…

Overall, businesses using a health reimbursement plan realized average cost savings of 27% and 52% for self-only and family status employees, respectively, compared with average group health insurance costs.

Craft an HRA Right for Your Business

Contact Us to Learn How