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Health Reimbursement Accounts

Health Reimbursement Accounts in Albany, NY

Health Reimbursement Accounts (HRA) may work in conjunction with any insurance plan. It can be designed to cover specific health expenses, or insurance plan cost-sharing, such as co-pays, coinsurance or a portion of the deductible on a High Deductible Health Plan. HRAs are funded and owned solely by the employer and are utilized for the benefit of employees to cover the cost of medical expenses chosen by you.

Health Reimbursement Accounts (HRA) may work in conjunction with any insurance plan. It can be designed to cover specific health expenses, or insurance plan cost-sharing, such as co-pays, coinsurance or a portion of the deductible on a High Deductible Health Plan. HRAs are funded and owned solely by the employer and are utilized for the benefit of employees to cover the cost of medical expenses chosen by you. An employer’s exposure to Federal and State taxes, including Social Security and Medicare taxes can be reduced by an HRA, and your contributions may qualify as a fully deductible business expense. HRAs may allow employees to rollover unused funds through consecutive benefit years, or may be designed to allow unused funds to be rolled back to the employer. BenefitsPlus has partnered with Datapath to provide direct access to HRA funds through the use of the MySource Debit card system, making the claims process easy for your employees.

For more information about Health Reimbursement Accounts in Albany, NY, Contact TPS Group Today.

Related to: Group Medical Consultants in Albany, NY, Employee Group Benefits in Albany, NY, Group Life & Health Insurance in Albany, NY

Resources

Internal Revenue Service (IRS)

  • Federal tax laws, rules and forms
  • Businesses and individuals
  • Independent contractor rules for IRS

U.S. Department of Labor (DOL)

  • Federal wage and hour law
  • Exempt and non-exempt employee status
  • Compliance assistance
  • Independent contractor rules for DOL

Employee Benefits Security Administration

Benefit plan compliance and assistance (health and retirement) COBRA HIPPA

Affordable Care Act Information and Health Insurance Marketplace

U.S. Bureau of Labor Statistics (BLS)

Labor statistics & wage data

Reviews

We look forward to working with TPS Group next year

We look forward to working with TPS Group next year

As another year ends, I want to express my sincere gratitude and appreciation to you and TPS Group for assigning us Krista Blier. Krista provides exceptional customer service and has been a major asset to me and Lynch, Traub, Keefe & Errante, P.C. She is extremely knowledgeable and always accessible. Always on top of the RMD’s, giving me an explanation on form 5500-SF to present to Mr. Keefe & keeping us updated with any account changes as well as specifics. It is a relief knowing I have full faith in Krista and can turn a blind eye to our account. I cannot tell you how many vendors/brokers I have to stay on top of and babysit to make sure our deadlines are met and to perform their job duties. Krista is a pleasure to work with and we look forward to working with her and TPS Group next year.

- Michael Panela

Contact us about Health Reimbursement Accounts in Albany, NY

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