Do you know what a Health Reimbursement Arrangement is?

Do you know what a Health Reimbursement Arrangement (HRA) is? A health reimbursement arrangement sometimes mistakenly referred to as a health reimbursement account, is an IRS-approved, employer-funded, tax-advantaged health benefit used to reimburse employees for out-of-pocket medical expenses and personal health insurance premiums. However, it is not insurance but you can use all or a portion of the monthly premiums for individual Medicare Supplemental insurance, Medicare Advantage plans, Medicare Part D Prescription drug plan.  In Toni King’s column, she advises her readers on what is a retiree HRA account. Read Ms. King’s column here…

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