A news release said the changes go into effect January 1, 2011. Employers can combine HRA plans with other programs such as Flexible Spending Accounts (FSAs) and access them through a shared SHDR Benefit Access Card, as well as automating which account is accessed first for claims, according to the company.
Plan rules and parameters are managed automatically during claim adjudication or settlement to ensure that HRA plans are administered to each employer’s specifications.
According to the company, the new HRA capabilities automate and enforce rules for a variety of HRA plan designs including:
- Individual and family plan characteristics
- Co-pay amounts by procedure type
- Embedded deductibles and embedded benefits
- Payout percentage by claim expense type
- Up to four levels of plan payout percentages
- Mid-tier deductibles (donut hole plans)
- Upfront deductibles
Stanley, Hunt, DuPree & Rhine, Inc., a subsidiary of BB&T, is an employee benefits consulting firm. More information is at http://www.shdr.com/ .