Health Reimbursement Account

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Health reimbursement accounts (HRA) allows employees to pay eligible health care costs tax free. Accounts are funded by the employers and are not portable. Balances may roll over at year-end but do not accrue interest. Accounts may be offered with a high-deductible health plan or alone.

  • Tax-free contributions
  • Control over expenses covered
  • Flexible plan design 

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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

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