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The BASE® Group Health Reimbursement Arrangement (HRA) is designed for employers who are seeking a way to effectively manage the tremendous costs associated with health care. Intended typically for small- to medium-sized businesses, this program helps employers cut health care costs by shifting more responsibility to their employees regarding the management of their health care expenses.
With the BASE® Group HRA's flexible design, employers who currently offer group health insurance and those who do not can both take advantage of the plan. Employers reimburse their employees for qualified medical expenses that are typically not covered under most health insurance plans. Qualified reimbursements paid to employees are tax deductible to the employers who provide the plan. Upon enrollment, many businesses often see improved employee relations due to the additional benefits given to their employees.
A Group Health Reimbursement Arrangement is also very beneficial to employees as it gives them a tax free means to pay for health care costs such as co-pays, deductibles, eye care, dental care, over-the-counter medications and much more. Just like consumers, employees are free to make their own purchasing decisions with regard to their health care expenses. When employees are held accountable for their own health care spending, they are more likely to take an active role in medical decisions.
With the BASE® Group HRA’s flexible plan design, most employers can take advantage of its tremendous tax savings. To inquire about the BASE® Group HRA, contact one of our Benefit Specialists today.
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