How does an HRA work?


In this video, Luke explains how a Health Reimbursement Account (HRA) works. Below are some key takeaways:

  • HRAs are entirely employer-funded accounts for employee healthcare expenses.
  • They are designed to reimburse employees for out-of-pocket medical costs, not to collect contributions from them.
  • HRAs can significantly reduce the financial impact of high deductibles on employees.
  • The specifics of HRA reimbursement and eligible expenses can vary, so employees should familiarize themselves with their particular plan details.
  • Understanding your HRA’s structure and rules is essential for maximizing its benefits.

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