Health Reimbursement Account

HRAs are a valued employee benefit that offer you flexibility and control. You decide which eligible expenses to cover and whether to roll over year-end balances. You also decide whether to offer accounts in conjunction with high-deductible health plans (HDHP) or alone.

• Specify which IRS-eligible expenses to cover
• Choose whether to roll over year-end balances
• Opt to offer in conjunction with a high-deductible health plan

Shifting health care spending from a traditional plan to an HRA and HDHP combination may reduce premium and utilization costs, while still allowing you to provide rich benefits.

• Opportunity to reduce premium costs
• Potential for reduced utilization costs

The following services are offered through SHDR, a division of BB&T:

• Plan design and enrollment assistance
• Benefits communication
• Auto substantiation and reduced claims paperwork with HRA debit card
• Online account management

An HRA allows employees to pay current eligible out-of-pocket health care costs tax-free. If you allow year-end balances to roll-over, employees can also save for future expenses. If you offer the HRA in conjunction with an HDHP, employees who contribute to their health care premiums will pay a reduced cost for their benefits.

• Withdrawals for eligible health care costs are tax free
• Benefit Access Visa^® Debit Card allows easy access to funds
• Online account management
• Year-end balance may roll over
• Health plan premiums may be reduced

Plans sponsors and participants have 24/7 access to account information and educational material online.

Sponsor Access

• Enroll new participants
• Update employee addresses and other personal information
• View consolidated accounts
• Generate reports
• Find answers to common employee questions

Participant Access

• Check balance and personal information
• Download claim forms
• Review lists of eligible expenses
• Find participating pharmacies and other merchants
• Get answers to common questions