PROJECT 1
FAQ
Health Reimbursement Account
Frequently Asked Questions
What is a Health Reimbursement Arrangement also known as an HRA?
An HRA is a health care account that only employers fund. The funds contained in these plans are used to pay for eligible health care expense with the employer determining at the onset of the plan what is eligible. Some additional options for employers may offer would be Limited HRA’s or Retiree Reimbursement RRA’s.
What is a Retiree Reimbursement Arrangement also known as an RRA?
An RRA is an employer-funded account designed to help you pay for certain eligible medical expenses during retirement. Your employer may fund it while you’re working or not until you retire. You can use the funds to pay for eligible expenses after you retire.
What is a Limited Health Reimbursement Arrangement also known as a LHRA?
What are the two phases involved with a Limited Health Reimbursement Arrangement?
Can anyone contribute to my HRA?
Are the funds in my HRA taxable?
What can I pay for with my HRA?
I have an HRA and a health care FSA. Which account will be used first when I have an eligible expense?
What happens to the HRA funds if they are unused at the end of the calendar year?