BASIC’s HRA Plan Flexibility
Rising healthcare costs can make it difficult to choose what benefits to offer your employees. An effective way to combat these costs is using a Health Reimbursement Arrangement, or HRA. An HRA is a versatile tool for cost control and for developing a more consumer-driven benefit plan.
BASIC offers a high degree of plan design flexibility with our HRA administration. We believe HRAs should be simple, whether you’re constructing your plan from the ground up or making changes to an established one. Our plan design flexibility is created by offerings like:
- Front end deductibles
- Carry-overs (this can provide an incentive for the employee to not spend it all)
- Roll-over
- Rx or dental only
- Section 213(d) expenses
- Pre-fund or prorate deposits
We let you set all of the benefit parameters for administration; cover medical, dental, vision, prescription, over-the-counter drugs, or any combination of these. We want you to build a plan that suits your needs – benefits are notone size fits all.
We want to make sure your plan is the best it can possibly be. That’s why, for established plans, we conduct a thorough review. By doing this we can help you avoid implementing or continuing with a plan design that is cumbersome or, even worse, discriminatory.
Each client receives a dedicated account manager. All of our account managers are well versed in health reimbursement accounts and certified in employee benefit administration by IFEBP.
By choosing BASIC, you can trust that your benefits will be as effective as possible. We’re dedicated to our customers; your best interests are our best interests. Always remember to keep it BASIC.
If you’d like to learn more about BASIC HRA, request a proposal here.
