Short Term Medical Insurance GA, Medicare Supplement Georgia, Employee Benefits Broker Georgia, Disability Insurance Georgia, Atlanta Insurance Broker - Heart of Georgia Insurance Brokers in Macon and Atlanta Georgia
Group Insurance Products - HSA & HRA
HSA: Health Savings Account
A High Deductible Health Plan (HDHP) gives employees solid healthcare coverage plus incentives to manage their benefits wisely. These plans feature low premiums and an integrated deductible for both medical and pharmacy costs. When paired with a Health Savings Account (HSA), employees can set aside tax-free money for current-year health expenses and build savings for the future.
HRA: Health Reimbursement Arrangements
A Health Reimbursement Arrangement (HRA) is offered in conjunction with a high-deductible health plan (HDHP), and is funded by the employer for each participating employee. It pays for eligible health care expenses typically covered under the medical plan. Unused funds can be carried over to the next year to cover future health care expenses, an incentive to employees to use their personal HRA wisely. If the employee changes jobs, the money stays with the employer.
Heart of Georgia Insurance Brokers has worked in both of these fields since the development of HSAs and HRAs. We are knowledgeable in this arena and will help guide you through the process of setting up either style of account. Please contact us today for information on HSAs or HRAs.