What is an HRA?
What's an HRA? HRA stands for health reimbursement arrangement. This IRS-approved, employer-funded health benefit is used to reimburse employees for their healthcare expenses.
This includes health insurance premiums, out-of-pocket medical expenses, or a combination of the two, depending on the type you offer. Plus, it's all tax-free to the employer and the employee as long as they have minimum essential coverage (MEC).
This is why many employers choose an HRA over a traditional group health insurance plan.
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Guide to the HRA: https://www.peoplekeep.com/health-rei...
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