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The BASE® HRA+ (Health Reimbursement
Arrangement) is designed for employers who are seeking a way to effectively manage the tremendous costs associated with health care. Intended typically for small- to medium-sized businesses
(1-99 employees), this program helps employers cut health care costs by shifting more responsibility to their employees regarding the management of their health care expenses.
With the flexible design of the BASE® HRA+, employers who currently offer group health insurance and those who do not can both take advantage of the plan. Employers reimburse their employees for qualified medical expenses that are typically not covered under most health insurance plans. Qualified reimbursements paid to employees are tax deductible to the employers who provide the plan. Upon enrollment, many businesses often see improved employee relations due to the additional benefits given to their employees.
The BASE HRA+ is also very beneficial to employees as it gives them a tax free means to pay for health care costs such as co-pays, deductibles, eye care, dental care, over-the-counter medications and much more. Just like consumers, employees are free to make their own purchasing decisions with regard to their health care expenses. When employees are held accountable for their own health care spending, they are more likely to take an active role in medical decisions.
With the flexible design of the BASE® HRA+, most employers can take advantage of its tremendous tax savings. To inquire about the BASE® HRA+, contact one of our Benefit Specialists today.
You can also learn more about the history of the HRA
and how it relates to today's tax codes.
If you are self-employed but do not have any
employees, you may qualify to save with a BASE HRA.
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