HRA's

Mentel

Do any of you have experience with Health Reimbursement Accounts? We are looking at this for the first time and I am a bit hesitant because of little history. I like the idea of employees choosing how to use their allotment. I think this could be a real eye opener for our employees. What are your thoughts and experiences with this?

Nat

We have been exploring HRA's due to the fact that we have a hard time getting insurance companies to underwrite us because of our industry (long-term care). Our broker presented to us this past year. I like the theory behind it but one reason we didn't look at it more seriously is because it seems like it is kind of like being partially self-insured. There is some risk for the employer involved and some liability to be carried on the books. I also like the idea of employees being able to choose where and when to spend the money and I like the idea of the money rolling from year to year unlike an FSA. Probably something we will really take a look at when we renew this year.

SMace

In my opinion the key to this type of insurance is EDUCATION, EDUCATION, EDUCATION! IF you give them money with no info on how to use it, it will not work. Also, you should cover preventative health care at 100%. You do not want to incent them to never go to a doctor.