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HRAs need to be set up as a formal health plan under IRS and ACA guidelines. Employers cannot casually reimburse or expense out medical costs —otherwise, they could face fines. Using an ICHRA or QSEHRA administration tool will keep you out of trouble and both HRAs will lend tax-advantages...
Only employees with an individual medical plan with MEC can participate in the ICHRA. If your organization has 50 or more FTEs, offering an affordable ICHRA can help you satisfy the Affordable Care Act’s employer mandate. The group coverage HRA (GCHRA), or an integrated HRA, allows you ...
With a QSEHRA, small employers with fewer than 50 FTEs could once again offer an HRA for individual health insurance instead of a group medical plan. December 13, 2016 Former President Barack Obama signed the 21st Century Cures Act into law, creating the QSEHRA. Chapter 3 What are the ...