HEALTH REIMBURSEMENT ARRANGEMENTS:
TAX-ADVANTAGED, EMPLOYER-SPONSORED BENEFITS
What is an HRA? The Health Reimbursement Arrangement (HRA) is a great addition to any benefits package because it allows employers to reduce healthcare-related expenses for their employees by providing an employer contribution to be used for out-of-pocket costs. And, by opting for a less expensive consumer-driven health plan, employers can use the money saved through the plan to fund employee HRAs with tax-free dollars. This gives employees control of their healthcare dollars.
The HRA is an employer-sponsored benefit, and with a fully customizable plan design, the employer has the flexibility to set which expenses will be eligible under the benefit. We recognize that every employer has different needs, which is why Discovery Benefits offers a wide variety of HRA plan designs.
What is an ICHRA? Our HRA solutions include Individual Coverage HRAs (ICHRAs), which were introduced in 2020. We have the technology and integrations already in place to service and simplify the administration of these plans. Your employees can pair an ICHRA with Discovery Marketplace to find affordable insurance plans in your area.
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ALL ABOUT HEALTH REIMBURSEMENT ARRANGEMENTS
Employer determines the type of HRA plan design that best aligns with their consumer-driven health plan
Employer sets a contribution limit based on their unique plan design criteria, such as coverage levels
Employer determines which expenses (within IRS guidelines) will be reimbursable through their plan
Claims are submitted against the HRA and incurred or paid out under the plan design
THE DISCOVERY BENEFITS DIFFERENCE
HRAs are not a one-size-fits-all benefit, and we're not a one-size-fits-all administrator. We learn about our clients' goals and design the plan around them, using our more than 30 years of experience in the industry to determine what will work best.
With our HRA benefits, we offer:
Flexible plan designs that can accommodate individual goals
One card, one online account and one mobile app for all benefits
A carrier-agnostic solution that increases flexibility
Payment automation capabilities that speed up reimbursement
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