Blue Cross members with a health spending account can keep track of their HRA through their member account using our website or mobile app. After you log in:. Who is this for? After you log in: On the Blue Cross mobile app, look for the health spending account icon on the home screen On our website, look for the health spending account link under My Coverage. How do Blue Care Network health reimbursement arrangements work?
Use it or you might lose it. Your employer can set up the plan so that unused HRA funds roll over from year to year. If you leave your employer and have unused funds in your account, they can keep the money.
How can I use the money in my HRA? What can I buy? Monthly premium payments. Payments toward a deductible. Hospital expenses. Dental care. Blood pressure monitors. Vision care, including eyeglasses, contact lenses and exams. Over-the-counter medicine and drugs. Prescription drugs. Blood glucose monitors. Sign in to your health plan account to review eligible expenses. How do I access my HRA money? How do I enroll in an HRA? For more information and to learn if this account is available to you, contact your employer.
Open video transcript Close video transcript Video transcript Many health plans include an account designed with money-saving opportunities in mind. Now, can you tell them apart? Sign in at myuhc. Who funds an HSA? How can I spend the money? It can only be used for qualified medical expenses. This does not include paying for premiums. What happens if I leave my job? What are the tax advantages?
How do I get an HRA? Who funds an HRA? An HRA is funded entirely by your employer. You can use your HRA for premiums and medical expenses. Businesses can give different employees different allowance amounts based on job-based criteria. Can be offered with a group health policy, but employees cannot have a choice between the group policy and the HRA.
Employees must reduce their premium tax credit by the amount of their HRA allowance. Any or all items listed in IRS Publication with the exception of individual insurance premiums. All full-time employees are eligible. Businesses can decide on part-time employee eligibility. Generally, all organizations can offer at least one type of HRA, but each one comes with different participation guidelines, especially when it comes to defining eligibility for business owners.
This is because owners can write off their medical expenses through other means and are not considered employees of the business by the IRS. Fortunately, this rule only applies to owners and their dependents, ensuring that employees remain eligible for the benefit. Download the owner eligibility infographic. There are four main steps that employers and employees use to submit and reimburse expenses:. When offering an HRA, you first decide how much tax-free money you will offer employees every month.
This represents the maximum amount your organization will reimburse the employee for health care. Once an allowance is set, it is impossible to go over budget.
Employees choose the health care products and services they want and purchase them with their own money. You can find a full list of eligible expenses using our expense tool , though you can limit these items according to your preference. Note that this step is not relevant for group coverage HRA participants, as they will be enrolled in a group health insurance plan.
Watch our webinar to learn how an HRA works for employees. To receive reimbursement, employees must submit proof that they incurred an eligible expense. Typically, this takes the form of a receipt, and in some cases, includes a doctor's note. Once we receive the documentation, our team reviews it to ensure it is eligible and contains all the necessary information.
If these three items are in place and our team confirms the expense is eligible for reimbursement, your assigned HRA administrator approves the expense and reimburses the employee up to their allowance amount. These rules include employee eligibility requirements, employee classes, and the expenses that qualify for reimbursement. This is the date the HRA will begin. Fortunately for organizations that want something in place quickly, HRAs can begin at any time. Not sure how to cancel your policy?
Download our tool kit. You must establish legal plan documents and make them available to employees. This includes a plan document and a summary plan description SPD. When you sign up for an HRA with PeopleKeep, we automatically generate these documents and make them available to employees in their user portal. Otherwise, you will have to draft your own documents, usually with the consultation of a lawyer to ensure your plan is compliant. You should communicate clearly and effectively with employees about how the new HRA works and that it is available to them.
In all cases, the law requires this communication to occur. PeopleKeep offers a free health insurance concierge that can help you employees shop for insurance, helping save you time and money. Are you ready to sign up for an HRA? Get started today. Running this risk is simply not an option for most, which is why PeopleKeep ensures our customers administer their HRA compliantly. Employees come and go, and you may choose to make changes to expense eligibility or employee class structure.
Throughout the life of the benefit, you must update this information in your plan documents as they occur. When you keep your employee records updated in our software, this data is automatically recorded and tracked. In addition, any changes you make to your PeopleKeep benefit design instantly generate new plan documents which are stored in your online portal and available for download. Speak with a personalized benefits advisor at PeopleKeep to learn more.
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