Individual Coverage HRA
- Allows employee to enroll in an individual health plan. Allows employer to offer a Healthcare FSA.
- Employer determines expenses, which can include health insurance premiums along with out-of-pocket medical, dental, and vision expenses.
- Way to offset medical premiums and medical/vision/dental expenses.
- Allows medical coverage flexibility.
- Employer-funded and don’t pay taxes on employer contributions.
- Improves financial & mental wellbeing.
- All contributions are tax-deductible.
- Can be a stand-alone benefit with GHP or on a class by class basis.
- Control costs and provide employees more options.
- Improves recruiting, retention and engagement.