AIG Launches Post-Employment HRA for Public Employees

December 19, 2005 ( - AIG VALIC has launched HealthSecure HRA, a health reimbursement arrangement to help public employers manage the growing cost of providing post-employment health care.

According to the announcement, the HealthSecure HRA is funded by the employer and reimburses qualifying out-of-pocket health care costs and premiums for the employee/retiree, their spouse and IRS-qualifying dependents.   All HRA contributions, investment earnings and withdrawals for qualifying expenses are free from federal taxes to employees and employers.

The HealthSecure HRA allows participants to direct the investments of their account balances from among 13 mutual funds.   Employees can self-direct the investment of the HRA among any of these funds and can change their investment fund allocation as often as once a month.

AIG is providing the HealthSecure HRA throughHRA Consultants, a Division of VEBA Service Group, LLC.

For more information, contact AIG VALIC at 1-800-448-2542.