Internal Revenue Service. What Is a VEBAVoluntary Employees' Beneficiary Association Plan? Provide money to lessen the burden of behavioral health expenses. Retirees should contact the Social Security Administration (SSA) 60-90 days prior to their 65th birthday to determine if they qualify forpremium-freeMedicare Part A coverage. A reimbursement account is set up by your former employer or benefits provider with a specific contribution of funds that can be used to reimburse you for qualified health care expenses. IMPORTANT: HRA funds through the Consumer Driven Health Plan (CDHP) are not transferable to an HRA through the Medicare Exchange. Eligible expenses for pre-tax health accounts (e.g., FSAs, HSAs, and HRAs) are defined by IRS Code Section 213(d). Weve built a platform that takes care of all your HRA administration needs. For 2022, a company with a QSEHRA can reimburse individual employees for up to $5,450 per year and employees that have families for up to $11,050 per year. Will I be charged to use the OPERS Connector to find and enroll in a medical plan? Depending on the type of HRA, funds may be used to reimburse health insurance premiums, vision and dental insurance premiums, and qualified medical expenses. Here is a list of those included on the list: Acne Medication and Treatments, Acupuncture, Addiction Treatment, Adoption Related Medical Expenses, Alcoholism Treatment, Allergy and Sinus Medicine and Products, Ambulance (and other medical emergencies), Anesthesia (Including Dental, Medical, and Vision Treatments), Antacid, Antibiotic Ointment, Artificial Limbs, Artificial Teeth, Aspirin (or other pain relievers), Asthma Medicines or Treatment (over-the-counter), Bandages, Birth Control (including over-the-counter), Blood Pressure Monitor, Body Scans, Braille Books and Magazines (exceed costs of regular printed editions), Breast Pump and Accessories, Breastfeeding Classes, Canker and Cold Sore Treatment (over-the-counter), Childbirth Classes, Chiropractor, Cholesterol Test Kit and Supplies, Christian Science Practitioner, COBRA Premiums ( Premiums are only reimbursable with a QSEHRA or ICHRA), Cold and Flue Medicine, Contact Lenses (including saline solution and enzyme cleaner), Contraceptives, Corn and Callus Remover, Corneal Keratotomy, Cough Drops and Syrup, Crutches, Dental and Oral Pain Products (over-the-counter), Dental Treatment (preventative and dental disease, non-cosmetic), Dental Surgery, Dentures and Bridges, Diagnostic Devices (i.e. Dear John Sample: You have qualified for an OPERS Health Reimbursement Arrangement (HRA). Learn how transitioning to a new benefits solution can help you. Employer-Sponsored Plans are not individually owned and amounts available under the Employer-Sponsored Plan are not FDIC insured. Managing your HRA at your fingertips! ", Health Insurance Marketplace. 2022 claims to Via Benefits by January 13, 2023, do not be concerned. Use your HRA to cover hundreds of eligible health care expenses, including medical, dental, vision, prescription, over-the-counter items and other categories chosen by your employer. An employee who uses up all the allocated funds in the HRA before year-end will have to cover any subsequent health bills out-of-pocket or with the funds in a flexible spending account (FSA), also known as a flexible spending arrangement, when available, or a health savings account (HSA) for employees who have a high-deductible health plan (HDHP). Were here to support you in all things related to working at the University of Rochester. We have a variety of resources to help you get the support you need. Most plans include an HRA payment card as a convenient way to access account funds. ), you do not need to change your coverage to meet the EBHRA requirement. If you have been offered an ICHRA by your employer, the only way you will qualify for a premium tax credit to help pay for Health Insurance Marketplace coverage is if your employers ICHRA is considered to be not affordable and you opt out of it. Qualified medical expenses for an HRA are those that would be eligible for reimbursement under a typical major medical plan. The IRS issued a statement notifying taxpayers that at-home COVID-19 tests and personal protective equipment such as face masks and hand sanitizer are eligible medical expenses that can be paid or reimbursed under flexible health spending arrangements, health savings accounts, and health reimbursement arrangements (HRAs). In contrast to an HRA, each employee determines how much money should go into these arrangements annuallyup to $2,850 in 2022 and $3,050 in 2023. Does Money in a Flexible Spending Account (FSA) Roll Over? Read on to find out specific details on using an HRA, or jump to a section with these links: Does my Healthcare FSA or my HRA pay for eligible expenses first? The Beniversal and eTRAC Prepaid Mastercards are issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license by Mastercard International Incorporated and may be used for eligible expenses everywhere Mastercard is accepted. Some plans can only reimburse services in your health plan, while others might include dental, vision, or pharmacy services. Can be used to pay for medical and dental expenses such as prescription medications, an annual physical exam,and birth control pills, Can be used to pay for individual health insurance with pretax dollars, Reimburses employees after they've paid for certain medical expenses and insurance premiums, Can't be used for costs that aren't deemed necessary, such as teeth whitening, funeral services, or non-prescription medication, Is set up by the employer, who decides how much money goes into the plan, Can't withdraw funds first, then pay expenses; must pay first, and then wait to getreimbursed. The Take Command Health Visa Debit Card is issued by Blue Ridge Bank, N.A., Member FDIC, pursuant to a license from Visa USA Inc. Learn about the team that makes it all happen. An HRA is not an account. Whether or not your ICHRA makes you eligible for a premium tax credit to help pay for health insurance coverage under the Affordable Care Act depends on whether your employer's ICHRA meets minimum standards for so-called "affordability," and whether you choose to opt-in or opt-out of the coverage. PDF 2021 Getting Reimbursed Guide - Via Benefits Internal Revenue Service. PDF FAQs on New Health Coverage Options for Employers and Employees Nowwhere to start? You may be able to use a Healthcare Card associated with your HRA to pay for eligible healthcare products and services. Can't find what you need? Your HRA card is a convenient way to pay for qualified medical expenses without having to submit paper claim forms. State and non-State retirees or surviving spouses and domestic partners have the option to reinstate PEBP coverage one time pursuant to NAC 287.540 and NRS 287.0475. Eligible expenses for pre-tax health accounts (e.g., FSAs, HSAs, and HRAs) are defined by IRS Code Section 213 (d). How does an HRA work? The IRS also provides guidance on what cant be deducted as a qualified medical expense. "FAQs on New Health Coverage Options for Employers and Employee: Individual Coverage and Excepted Benefit Health Reimbursement Arrangements," Pages 2, 3. When you select an individual plan through Via Benefits, you can use Via Benefits' ongoing support for HRA administration, carrier claim resolution and medical plan questions. EBHRAs provide a simple, flexible way for your employer to help fund insurance coverage for the excepted benefits for your choosing. If not, lets us know and we will get it added. Claim forms can be obtained by calling Via Benefits at (833) 945-1110. An HRA is a tax-favored health reimbursement arrangement used to reimburse eligible health care expenses, up to an annual maximum amount. Licensing Employers can create your HRA plan in a way that helps you save on both your upfront medical costs as well as the per medical expense costs targeting certain services/expenses that may cost more with the insurance plans they offer. What is an health reimbursement account (HRA)? The HRA is a retiree-only plan for Medicare-eligible retirees. Failure to enroll within 60 days will result in termination of coverage. An employers list of reimbursable medical expenses will be outlined in its HRA plan document for employees. Is an HRA right for your business or client? HRAs are managed by Via Benefits. HRA money that hasn't been used by the end of the year can usually be rolled over to the following year, with an employer determining the maximum amount that can be carried from one year to another. BRI combines expertise and excellence to provide premier ongoing support to employers and participants, backed by experts and technology you can trust. Employers are allowed to claim a tax deduction for the reimbursements they make through these plans, and reimbursement dollars received by employees are generally tax-free. A Medical Savings Account (MSA) was a forerunner of a Health Savings Account (HSA) and had similar deductibles, IRA status, and tax treatment. Among other medical care expenses, Individual Coverage HRAs can be used to reimburse premiums for individual health insurance chosen by the employee, promoting employee and employer flexibility, while also maintaining the same tax-favored status for employer contributions towards a traditional group health plan. A limited purpose flexible spending arrangement (LPFSA) is a medical savings plan, for use with a health saving account (HSA), to pay dental and vision expenses. Privacy Policy Simplifying the complexity of benefits for maximum savings and peace of mind. What are HRA eligible expenses? Here's what to know about HRA eligible expenses. Individuals who retired before January 1, 1994 will receive a flat $195 per month to the Exchange-HRA. Chat, email, or phone. A Heath Reimbursement Arrangement, HRA, is a popular employee benefit plan that allows employees to use pre-tax dollars to pay for qualified medical expenses and individual insurance premiums. Reimbursements for qualified medical expenses are not taxable income and are not reported on any tax form. Visit our Retiree FAQs page to get answers to frequently asked questions. For example, if your retirement date is June 7, your coverage will begin July 1. Banking services are provided by Blue Ridge Bank, N.A, Member FDIC. Active employees and their covered dependents are not required to enroll in Medicare Part A or B prior to retirement. Health Insurance Marketplace. Retirees must also be receiving retirement benefit distributions from one or more of the following: For more information regarding retiree benefits, premium subsidy, Exchange-HRA contribution (for Medicare retirees enrolled in the Medicare Exchange), and/or surviving dependent eligibility, please refer to the applicable Master Plan Document. Once PEBP receives a termination notice from a members Agency, the member will be placed in terminated status. View the monthly HRA contribution amounts here. Retirement is a qualifying life event which allows you to change your medical plan or add or delete eligible dependents. Below is an excerpt of what is included in the manual. To recap, the QSEHRA is designed for employers with less than 50 employees to reimburse for premiums and medical expenses if the plan allows. Health Insurance Marketplace. Dear John Sample: You have qualified for an OPERS Health Reimbursement Arrangement (HRA).