“Broadening the membership benefits available to member organizations to include not only health insurance coverage options but, health reimbursement arrangements (HRAs) lets us better meet differing needs,” explains Tim McNichols, director of business development for LIG Solutions.
The Department of Labor (DOL) and the IRS will discuss the benefits of offering expanded options provided by new health reimbursement arrangements (HRAs) and more.
Experts expect the two news types of health reimbursement accounts created by a trio of federal agencies will be particularly attractive to small business owners and their employees.
Rachel Leiser Levy, from Groom Law Group, explains changes from the proposed HRA regulation in the final regulation, and says it remains to be seen how this will affect the employer health benefits market.
Starting next January, employers can give their workers tax-deferred funds to go shopping for a health plan, thanks to individual coverage health reimbursement arrangements.
John Barkett, senior director of policy affairs at Willis Towers Watson, explains that HRAs have to be connected to a group health plan, with some exceptions for retirees. This proposed rule would take away that requirement.