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August 2019: Final Rule Expands Options for HRAs

Business Insurance

 

Final Rule Expands Options for HRAs

Health officials issued a final rule that expands the usability of health reimbursement arrangements (HRAs).

Effective in 2020, the final rule establishes two new types of HRAs:

Individual Coverage HRA:
Allows employers to offer an HRA to be used to reimburse the cost of individual market premiums on a tax-preferred basis, subject to certain conditions, as an alternative to traditional group health plan coverage.

Excepted Benefits HRA:
Allows employers that offer traditional group coverage to provide an HRA of up to $1,800 per year (as adjusted) to reimburse certain qualified medical expenses.
 
 
 
 

Additional articles from the August 2019 edition of the Univest Employee Benefits Newsletter:

  1. Executive Order on Health Costs to Affect Employer Health Plans
  2. Why You Should Be Encouraging Employees to Use PTO
  3. Retain Employees Through Training

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