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- Title
Final Regulations Could Expand the Use of Health Reimbursement Arrangements.
- Authors
Schneider, Paul J.
- Abstract
Effective January 1, 2020, under final regulations issued by three government departments, employers can offer two new forms of health reimbursement arrangements (HRAs) to employees. As long as certain requirements are satisfied, the final regulations allow employers to offer an individual coverage HRA which allows HRAs to pay premiums for individual medical insurance coverage purchased by the employee on a tax-advantaged basis. This also shifts the risk of premium increases to the employee. In addition, employers can offer another form of HRA that is allowed to purchase excepted benefits. This could be a significant development for small- and mid-sized employers regardless of whether they presently offer medical care insurance coverage.
- Subjects
HEALTH reimbursement accounts; HEALTH insurance; INSURANCE; RISK premiums
- Publication
Journal of Financial Service Professionals, 2020, Vol 74, Issue 4, p66
- ISSN
1537-1816
- Publication type
Article