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Can an employer provide a Health Reimbursment Account?
My employer is increases the deductible on our health plans to $500. The Out-of-Pocket maximum is increasing by $1500 for family coverage. I was wondering, even though the deductible is low, can the company combine this plan with a HRA. I know that a HSA can only be combine with a High Deductible plan, but I couldn't find much info about similar stipulations to an HRA. So a more detailed question would be, "Can an employer fund an HRA with a low deductible PPO Health Plan?"
I live in the U.S. I know this health plan is a great plan, but since I live in Southern Minnesota and close to Mayo Clinic, the premiums on the plans are expensive,and keep increasing every year. The main concern is the increase to the Out-of-Pocket which will increase from $750 to $2500 per family coverage. Can the employer fund an HRA to minimize the potential cost created by the higher Out-of-Pocket increase?
3 Answers
- AnonymousLv 78 years agoFavorite Answer
An employer "can", but that doesn't mean they "have to".
And honey, a $500 deductible is NOTHING. You've got AMAZING benefits. It's much more common for people to have a $2,000 deductible - or higher - than $500.
- AnonymousLv 78 years ago
They can if they want to. But, the reason they are increasing the deductibles is to cut some cost. Implementing an HRA increases costs.
- RobLv 78 years ago
those numbers if in USA are very good
and low numbers.
u can not have both at same time.
simply save up the money on the side.
if u do not use it , u will have it later.
Source(s): employer
