To help offset the cost of out-of-pocket deductible expenses each employee enrolled in the Medical Plan is also enrolled in our HRA Plan.
What is an HRA?
A Health Reimbursement Arrangement (HRA) is an employer-funded account that helps employees pay for qualified medical expenses not covered by their health plans. Your employer sets aside a fixed amount of money to your HRA each year for you to use. Unlike other health spending accounts, only your employer can put money into your HRA. Your HRA can be paired with a Healthcare Flexible Spending Account (FSA). Qualified expenses are automatically paid from the FSA first, up to the available balance. Then, funds from the HRA are used for any qualifying medical expenses.
Euromotors contributes the following amounts to the Health Reimbursement Arrangement (HRA):
- $2,500 for Individual coverage
- $4,000 for Family coverage
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