An HRA puts you in control and saves money!
A Health Reimbursement Arrangement (HRA) is an account set up by your employer to cover eligible medical expenses. It works in conjunction with a High Deductible Health Plan (HDHP) that works as a low-cost safety net to cover major health expenses.
The HRA is similar to an expense account, where the money is tax-free. And if you incur an eligible medical expense, you’re reimbursed – tax-free. The funds are usually carried over each year and are available as long as you’re a participant in the HRA.