The Affordable Care Act (known as ACA, ObamaCare, or health reform) was signed into law in 2010 and impacts many areas of health care and health insurance, including medical reimbursement programs such as HRAs, HSAs, and FSAs.
Health reform is bringing sweeping changes to the health insurance industry, including how employers can use Health Reimbursement Arrangements (HRAs). Here's four things to know about HRAs and health reform in 2014 and beyond.
Editor's Note: This article was published prior to Technical Release 2013-03. As such, some information may no longer be accurate. For an updated article, see: FAQ: Can We Reimburse Employees' Subsidized Exchange Premiums?
Determining a budget for a stand-alone HRA is quite simple, because the cost of a stand-alone HRA is 100% controlled by the employer. This is one of the major benefits of offering a stand-alone HRA and why many small businesses and nonprofits are transitioning from traditional group health insurance to a stand-alone HRA.
Many small employers are combining Health Reimbursement Arrangements (HRAs), individual health insurance, and the new health insurance subsidies to create affordable health benefits that employees love.
Health Reimbursement Arrangements, also referred to as Health Reimbursement Accounts or HRAs, provide small businesses an affordable health benefits solution. HRAs are growing in popularity because they allow small businesses to provide health benefits at an affordable cost. A common question from small businesses is "who can administer the Health Reimbursement Account?"
On August 29, 2013 the U.S. Department of the Treasury and the Internal Revenue Service ruled that same-sex couples, who were married under jurisdictions that recognize their marriages, will be treated as “married” for all federal tax provisions where marriage is a factor. These federal tax provisions include, but are not limited to:
Editor's Note: This article was written prior to Technical Release 2013-03 and parts of the article may no longer be accurate. For an updated article, see: 4 Things to Know about HRAs and Health Reform in 2014.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.