Health Reimbursement Arrangements (HRAs)
HRAs provide tax-free reimbursement of substantiated health care expenses
incurred by the employee and the employee’s spouse and dependents.
Plans can allow for employer contributions, mandatory employee contributions, and special pay contributions.
Aviben specializes in designing HRA plans for an employer’s specific objectives and in administering the plans for an optimal participant experience.
Types of HRAs
1
Retiree-Only HRA
Funds available after separation of employment
2
Integrated HRA
Funds available during employment but employee must be enrolled in a group health plan
3
Limited Purpose HRA
Funds available during employment for dental and vision only
4
Individual Coverage HRA
Funds available for active employees to purchase individual health insurance plans
5
Qualified Small Employer HRA (QSEHRA)
Funds available for active employees. Only employers with fewer than 50 employees and no other group health plans
6
Grandfathered HRAs
Plans where no contributions were made after January 1, 2014
Open-Architecture Platform
As a pioneer in the provision of invested HRAs, Aviben offers an open-architecture platform that enables participants to invest their HRA balances for long-term growth. Aviben’s platform allows employers to mirror the investment lineup of a retirement account, select their own lineup, or utilize Aviben's default fund lineup developed by an advisory firm.