VISTA HEALTH LEARNING CENTER
What is a HRA (Health Reimbursement Account)?
Health Reimbursement Accounts, also called Health Reimbursement Arrangements (HRA's) are employer funds available to reimburse employees for qualified medical expenses. The terms of these arrangements can provide first dollar medical coverage until the funds are exhausted. HRA's are typically funded on an as needed basis meaning that no separate account is maintained by the employer and the availability of funds is dependent on the financial health of the company at the time a claim is made. The employer may cancel or amend a Health Reimbursement Account at any time.
Health Reimbursement Accounts are only funded by the employers and can be deducted as business expense when actual distributions are made. An employee may only qualify for funds from an HRA while employed by the employer and subject to the terms of the governing plan document.
Relevant Links
New York State Insurance Department
The Insurance Department is responsible for supervising and regulating all insurance business in New York State.
http://www.ins.state.ny.us/hp97wel.htm
Healthy New York
Healthy NY is a state program that offers subsidized and standardized insurance plans (offered by all HMO's) to qualifying Individuals, Sole Proprietorships & small Groups.
http://www.ins.state.ny.us/healthny.htm
Child Health Plus
New York State has a health insurance plan for kids, called Child Health Plus. Depending on your family's income, your child may be eligible.
http://www.health.state.ny.us/nysdoh/chplus/
Elederly Pharmaceutical Insurance Coverage (Epic) Program
EPIC is a New York State sponsored prescription plan for senior citizens who need help paying for their prescriptions.
http://www.health.state.ny.us/nysdoh/epic/faq.htm