Health Reimbursement Arrangements, or HRAs, are a modern way for employers to provide health benefits to employees. Rather than a one-size-fits-all group plan — or leaving employees to cover all of the costs of the plan on their own — employers can now offer their employees a tax-free allowance to purchase benefits that meet their unique needs. Listen as we cover:
[2:16] Balancing high cost & still providing for employees
[5:53] A new benefits model & how to take advantage of it
Health Reimbursement Arrangements, or HRAs, are a modern way for employers to provide health benefits to employees. Rather than a one-size-fits-all group plan — or leaving employees to cover all of the costs of the plan on their own — employers can now offer their employees a tax-free allowance to purchase benefits that meet their unique needs. Listen as we cover:
- [2:16] Balancing high cost & still providing for employees
- [5:53] A new benefits model & how to take advantage of it
- [8:18] What HRAs help solve for
- [10:30] How to know if HRAs are right for your specific situation
- [12:25] How to get started with an HRA & potential cost savings
Copyright © 2023 ADP, Inc. All rights reserved. This content may not be distributed, reproduced, modified, sold or used without the written permission of ADP. The information is provided "as is" without any expressed or implied warranty, is based on generally accepted HR practices and is advisory in nature. This content is provided with the understanding that neither the presenters nor the writers are rendering legal advice or other professional services. Employers are encouraged to consult with legal counsel for advice regarding their organization's compliance with applicable laws. This material is current as of the date of this episode (November 2023).
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