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Core Documents Produces a Video About Health Reimbursement Arrangement (HRA) Plans

Core Documents, the nations leading provider of affordable Section 125 Cafeteria and HRA plan documents has produced a new video titled ‘How to Save on Group Health Premium with a Health Reimbursement Arrangement (HRA)’.


05:00 Minute Executive Summary:


Above: How to Save on Group Health Premium with a Health Reimbursement Arrangement (HRA) (video)

Learn how employers save money on group health plan costs with an HRA and how easy it is to set up one to start saving money right away.

The most common use of an HRA is in combination with a High Deductible Health Coverage (HDHC) Plan. HRAs can enhance a company’s benefit package while helping to contain costs and boost employee morale. For example, you can combine your HRA with a higher-deductible health insurance plan. The employer benefits from reduced insurance costs, but the effect to the employee is cushioned with an HRA.

Click the following link to download Core’s HRA Group Premium Savings Calculator. This simple one page worksheet allows any employer to compare premium savings for a new high deductible plan with their current lower deductible plan to identify exact savings.

The worksheet will also allow the employer to estimate claims for a proposed HRA Deductible Gap plan to pay the extra deductible expense only for those employees who actually experience one.

For example, if an employer moves to a $1,500 deductible instead of their old $500 deductible, the employee still pays the first $500, and the new Deductible Gap HRA will pay the new higher deductible expense from $501 to $1,500.

This completely shields the employee from the higher deductible expense. However, the employer realizes the premium savings on all employees even though only 15 to 20% of employees will experience a deductible expense.

HRAs provide employers with a lot of flexibility in numerous plan design options. Limits can be set on types of services reimbursed by an HRA.

Defined dollar benefits contributed to a Comprehensive HRA can be made available to employees either in a lump sum or in increments throughout the year. This is in contrast to a Section 125 Health FSA where the employer can be liable for the full benefit amount on the first day of the plan.

You can also choose to carryover unused HRA funds to the next plan year, or have all or a portion of the unused HRA funds forfeited at the end of the year.

Core HRA Health Reimbursement Arrangement Plan Document Package

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