health reimbursement arrangements

Health Reimbursement Arrangements (HRAs) are employer-funded accounts that employees can use to pay for qualified medical expenses. Employers contribute money to these accounts, and employees can use those funds tax-free for costs like doctor visits, prescriptions, or other healthcare services. HRAs give employees flexibility in choosing their providers and managing healthcare costs, while employers benefit from tax advantages. The specifics of HRA plans can vary, but overall, they serve as a financial tool to help cover healthcare expenses more efficiently.