HRA reimburses employees for certain medical expenses and sometimes insurance premiums.
Employers, not employees, fund HRA.
HRA is not portable; the employee loses this benefit when they leave the company.
Government regulations, which employers may further specify, determine which expenses can be reimbursed to workers.
Depending on the type of HRA, funds may be used to reimburse health insurance premiums, vision and dental insurance premiums, and qualified medical expenses.
The Consolidated Comprehensive Budget Reconciliation Act (COBRA) allows many employees to remain in their employers’ group health plans for a specified period of time after losing their job.
HIPAA affects policy, technology, and record keeping in healthcare facilities, health insurance companies, health insurance companies, and health care billing services.
A Health Savings Account (HSA) is a tax-advantage account that helps people save on medical expenses that are not covered by high deductible health insurance plans.
Long-term care insurance typically covers all or part of nursing facilities and home care for people aged 65 or older or with a chronic condition requiring ongoing care.
“This is private insurance available to anyone who can afford to pay for it.