A CONEXIS health reimbursement arrangement (HRA) is a great way to combat the rising cost of health care. Offering an HRA allows you to provide a valuable benefit to your employees, giving them access to funds to pay for eligible out-of-pocket expenses, while your organization reaps significant savings.
HRAs are similar to other reimbursement accounts, but they’re funded solely by employers. As the plan sponsor, you get to decide who can participate, which eligible expenses will be covered, how much you will contribute, and how the plan is structured, as well as other key plan components.
Most importantly, 100 percent of reimbursements are tax-deductible for your organization (or you) and contributions are tax-free to the employee. Save even more by integrated an HRA with a qualifying high deductible health plan (HDHP) that offers essential health care benefits. You’ll continue to provide employees with traditional health insurance coverage – along with an HRA plan that reimburses them for out-of-pocket eligible expenses. You will see your premium costs go down and your savings to up.
Health reimbursement arrangements offer several key benefits to employees, including:
The CONEXIS Elite Visa® Benefit Card makes paying out of pocket and waiting for a reimbursement check a thing of the past. And with recent advances in card technology, using the Elite Benefit Card is the easiest way for participants to use the funds in their HRA.
Our proprietary card and processing system provide exciting features that make using the Elite Benefit Card a breeze, including: