What is a Healthcare Reimbursement Plan – Explained

Healthcare Reimbursement Plan or HRA are reimbursements offered by an employer to their employee for health expenses claims. They are an alternative traditional group healthcare plan. Healthcare reimbursement plans are different because the employer covers health expenses by offering a certain allowance amount instead of choosing a “one-size-fits-all” group health insurance. A healthcare reimbursement plan can provide an employee with an allowance for medical expenses that includes insurance premiums. How Do They Work? Healthcare reimbursement plans require some legal documentation to be constituted as a formal arrangement.  They are also subject to complex federal regulations which need to be fulfilled … Continue reading