Health Reimbursement Accounts

Health Reimbursement Accounts (HRAs) are accounts funded by employers that reimburse employees for qualified medical expenses.  In 2010, the College is funding an HRA in the amount of $325 for employees annually earning $40,000 or less.  This will help employees enrolled in the medical plan cover out-of-pocket expenses such as co-pays, co-insurance, deductibles, and prescription drugs.

HRA's should not be confused with Flexible Spending Accounts (FSA's).  Employees contribute funds on a pre-tax basis to a medical or dependent care FSA through a salary reduction agreement.  A medical FSA can be used for a wide assortment of medical costs associated with the health or dental insurance plans and over the counter medications.  Please note!!  The College's HRA may only be used for costs associated with and approved by our health insurer.  Employees who have an FSA as well as an HRA MUST submit eligible medical expenses through the HRA first.  Employees may not use the same receipt two times (for reimbursement from the HRA AND the FSA).

You do not need to enroll or follow any steps in HRforYOU for your HRA.  For more information about this new benefit, please refer to the following:

Employee Benefit Plan Administration, Inc. (EBPA)
37 Industrial Drive Suite
Exeter, NH  03833-4593 
     1-800-578-3272
www.ebpabenefits.com