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