Locations

Shelton Office

112 Huntington Street
Shelton, CT 06484
Phone: (203) 926-0001
Toll-Free: 888-397-3772

Middletown Office

573 Newfield Street
Middletown, CT 06489
Phone: (860) 346-9661
Toll-Free: 888-397-3772

Southington Office

276 North Main Street
Southington CT 06489

HRA

What is a Health Reimbursement Arrangement?

A Health Reimbursement Arrangement (HRA) allows an employer-funded account to repay the unreimbursed medical expenses of employees. Employers don’t have to pre-fund the entire HRA account, they can simply reimburse employees as they submit claims. Therefore, the less employees spend on medical expenses, the more the employer saves.

A Section 105 HRA account may reimburse any or all of the same expenses as a Section 125 Medical Flexible Spending Account. (FSA) An HRA may also reimburse non-employer sponsored health premiums.

Firms of any size can establish an HRA program. An HRA gives the employer control over the expenses they will reimburse and the flexibility to design a benefit plan that can meet their employees’ needs. This plan can be used in conjunction with or instead of a traditionally insured group medical plan.

Costs associated with health care are going to continue to rise and employers are going to struggle with how to manage these increases. Therefore, it will be necessary for employers and employees to become more familiar with Health Reimbursement Arrangement Plans and the savings, both tax and premium, that they can provide. Serra & DelVecchio Insurance simplifies plan administration and allows employers to spend more time making their businesses successful. Through our efficient in-house administrative services, Serra & DelVecchio Insurance can help reduce the costs of managing your Health Reimbursement Arrangement.

HRAs can be structured to include a variety of tax-free benefits:

Qualified Medical Expenses for Employees and their families
Individual Health Plan Premium Reimbursement Programs
Insurance Deductible Replacement Programs
Single Expense Reimbursement programs (i.e., Dental or Vision)

With Serra & DelVecchio Insurance, employers are able to have the flexibility to design their own benefit plan and control what the benefit might cost. Using Serra & DelVecchio Insurance will allow you to capitalize on the following:

Complete In-House HRA Administration
The Needs of a Diverse Workforce
Control Benefit/Premium Costs
Recruit and Retain Quality Employees

Testimonials

“Justin - Thanks so much for getting everything to me so quickly today. My mom is thrilled about the saving and she should be all set for Monday - I talked to John today and he is taking care of everything for Monday - he was great to work with today. And it is a small world - lol. Thanks again for your wonderful help with everything - talk to you soon”

-- Laura, P&C