What is a Heath Reimbursement Account?

A health reimbursement account (“HRA”) is an arrangement designed to reimburse an employee for part or all of medical expenses incurred by the employee.    An HRA is often used to help employees cover part or all of the medical expenses that are not covered by the employer’s group medical plan such as deductibles or co-pays.  An HRA may also be used to cover various expenses such as dental or vision or prescription drugs that are not covered under the group medical plan.  Under most HRAs, the employee is required to submit a claim for reimbursement along with a receipt or invoice to substantiate the claim.  An HRA can limited to an annual maximum, or otherwise tailored to fit well with the employer’s group medical plan and to suit the employer’s needs.  By using an HRA, an employer may be able to adopt a group medical plan with a higher deductible and thereby lower the overall cost of providing health coverage to his or her employees.  Please call or email me if you would like to talk about health insurance coverage and/or setting up an HRA.   Jsenney@pselaw.com or 937-223-1130.

Send a copy of SenneySays along to your to your friends.    

AND ONE MORE THING.  How long has it been since you had a Legal Audit?  The Business attorneys at PS&E would like to meet with you and do a free legal audit of your company.  As part of the legal audit, we will work through a checklist with you and identify areas where you may be at risk.  If you would like to schedule a free Legal Audit with one of the PS&E attorneys, please send me an email or give me a call.  Jsenney@pselaw.com or 937-223-1130.

Serving Dayton, Serving You

Pickrel, Schaeffer & Ebeling Co., LPA, 2700 Kettering Tower, Dayton OH 45423

www.pselaw.com

Tax, Business, ERISA, Employee Benefits, Real Estate, Construction Law, Private Placement Security Law, Employment Law, Workers Compensation, Probate, Estate Planning, Succession Planning, Immigration Law, Litigation, Arbitration, Mediation