How does the HRA work in 2009?
The HRA is employer funded. For 2009 there will be a one-time employer paid contribution of $500. The HRA can be used to pay for eligible health care expenses not covered by the health plan, and you decide how and when to spend the money. In addition, any remaining funds in an HRA roll over to the next year. An HRA can work as a standalone account, or it can work in conjunction with the Healthcare FSA. Visit the WageWorks website https://www.wageworks.com/employee/health-care/expenses/fsa.htm This link brings you to the FSA informational page, which offers identical information for HRAs.
Related Questions
- My husbands insurance just changed to a HIGH DEDUCTIBLE HSA/HRA plan. How does this change from the traditional deductible that we had in the past?
- Can I avail income-tax deduction for house rent allowance (HRA) as well the home loan interest?
- May an organization limit CHT access to members who complete an HRA?
