How does an HRA work?
Generally, you can use your HRA for:
Your employer puts money into your HRA and you choose how your healthcare dollars arespent (within the parameters set by the employer). The money contributed by your employer doesn’t count as income which means there are no tax implications.
You can use the money in your HRA throughout the plan year for qualified medical expenses.
Depending on your plan design, any leftover dollars may roll over from year-to-year (as long as you continue to be a member of the plan) or they may be forfeited.
If you have any questions about your HRA through CAS or how it works, call us!
We would love to help!
What is a
Health Reimbursement Arrangement
HRA programs are fully funded by your employer and are designed to help you pay for out-of-pocket medical expenses.
Your employer sets the amount in the account and also specifies the types of services that are eligible.