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.
Health Reimbursement Accounts
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.
Highly impressed with their level of expertise and outstanding customer service.
I highly recommend TPS Group and their quality third-party administration for our 403(b) plan. During our long relationship with TPS Group, we have never failed to be impressed with their level of expertise and outstanding customer service. They keep their promises and it’s easy to work with them. Having our own rep Lauren McNabb is a plus!
- Don Senecal
"Extremely Helpful to Our Business"
Malinda deserves special recognition. She is prompt, courteous, and professional. We find her to be extremely helpful to our business.
- Angela Simino
"Wonderful To Work With"
My go to professional is Des. A wonderful person to work with. We can count on him to handle all of our needs.
- Andrea Blakeslee
"Answers All Of My Questions In A Clear Manner"
Our case administrator, Susan, has been absolutely wonderful and is a joy to work with. She is very knowledgeable, patient, answers all of my questions in a clear manner, and is professional.
- Kathy Townsend
Extremely Valuable to Myself and Our Company
Kathleen has helped me gather info and understand text so many times and is extremely valuable to myself and our company.
- Elizabeth Robison
Very Responsive And Clear To Requests And Questions
Our service representative, Carol, is outstanding and very responsive and clear to requests and questions. Very professional yet pleasant.
- Jane Surmecewicz
They are a pleasure to work with and we highly recommend their services.
For many years we’ve relied on TPS Group’s extensive knowledge and industry expertise to keep us in compliance with state and federal regulations as well as changes in the law. Their attention to detail is just what we need to keep our business operations running smoothly. They are a pleasure to work with and we highly recommend their services.
- Dan Neal
TPS filled in the gaps within our small HR department
Working with Kim and her talented team helped us fill in the gaps within our small HR department. I strongly recommend TPS for HR tasks that don’t warrant hiring a full-time team. Thanks again Kim!
- Jake F
Knowledge and Expertise
Excellent customer service can be hard to find, but not with TPS Group! I know when I do business with Phil Coco, I can expect a quick response. I rely on his knowledge and expertise, and highly recommend TPS Group for their pension services.
- Mark Catullo
Dependable, experienced, and professional
Dependable, experienced, and professional, our TPS Group recruiter was an invaluable resource, helping us locate and vet quality talent.
- Tyler R. Vunk
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Defined Benefit Plans are Alive and Well
Posted on Apr 17, 2019
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Cash Balance Plans Allow Six Figure Annual Contributions
Posted on Mar 28, 2019
Most people can contribute to their 401(k) without worrying about exceeding the annual contribution limit. If you’re under 50 years old, that’s $19,000 a year. If you’re 50 or older, it’s $25,000. But a small and important segment of the population has the ability– and desire –to contribute significantly more to their retirement account. If you’re looking to save even more on taxes and put up to six figures per year into your retirement account, a Cash Balance plan may be the right choice. »