Health Reimbursement Account
(HRA) (Section 105)
Many employers have combined high-deductible health plans with a Health Reimbursement Arrangement (HRA) to help manage rising health insurance costs. In this setup, employers fund individual reimbursement accounts for their employees and determine how they can be used. This approach saves employers money by transitioning from first-dollar coverage to a high-deductible health plan without significantly increasing their employees’ out-of-pocket expenses. Additionally, the NWGS Flex Convenience Card simplifies the process of managing paperwork; with just a swipe of the card, employees can effortlessly pay for out-of-pocket costs such as deductibles and co-pays.