Health Reimbursement arrangements
Additional coverage for out-of-pocket medical expenses
HRAS ARE FULLY FUNDED BY EMPLOYERS, WHO DETERMINE THE AMOUNT TO PAY INTO THE ACCOUNT AND WHAT MEDICAL EXPENSES QUALIFY FOR REIMBURSEMENT.
A Health Reimbursement Arrangement (HRA) is a healthcare account that can be used to help employees pay for qualified out-of-pocket medical expenses.
NeuBridg Inc., offers several HRA plan options to cover the various needs of your workforce. They include:
- Integrated HRA
- Limited Purpose HRA
- Individual Coverage HRA
Review the benefits of each plan to find the plan for you.
Employers: Get the most out of your Prevailing Wage Contributions
Designed to satisfy Davis Bacon Act prevailing wage laws, the NeuBridg HRA is a health benefit for companies providing services to both public and private entities. By using the fringe benefit rate to fund the NeuBridg HRA:
- Employers provide employees a valued, tax-lowering benefit.
- Contributions are exempt from FICA, FUTA, SUTA, General Liability and Workers Compensation.
- Contributions are 100% tax deductible to the corporation and 100% tax-free to the employees.
- HRA’s help organizations contain health costs.
- Plans are customizable to meet your corporation’s needs.
Employees: Gain Valuable Benefits that Deliver Tax-Free Savings
HRA Funds are not subject to typical payroll taxes. When your employer offers a NeuBridg HRA plan, your healthcare dollars go further. And the best part is, there is no “use-or-lose” it rule. Unused dollars in your account roll over from one year to the next.
Here’s how it works: As soon as your employer places fringe funds into your HRA account, they’re immediately available to help pay for health-related expenses allowed by your plan:
- If you are enrolled in your employer’s health plan (or a group health plan of another employer that does not consist solely of excepted benefits), you can use funds in your NeuBridg Integrated HRA to help pay for co-pays, deductibles, office visits, prescriptions, dental care, vision care, even insurance premiums.*
- If your employer has the NeuBridg Limited Purpose HRA, your HRA funds can be used to pay for deductibles and coinsurance under vision and dental plans in addition to uninsured vision and dental expenses.
*Certain restrictions apply
Find out how an HRA can help your business