Advantages Of Health Reimbursement Account (HRA)

Health reimbursement Account (HRA) is a health coverage plan that compensates the employee’s out of pocket health bills, funded by the employer.
This began on the introduction of the Affordable Care Act, in order to give the employers a tax advantage as they, employers help in their employees’ health coverage.
HRA is not deducted from the employee’s salary, it operates alone as an employer’s account. It is therefore the responsibility of the employer to set limitations and specifications of how much the employee is covered. And the unused amount, is retained by the employer, it could be carried forward to the following year, but in case of an employee’s job shift the amount remains the employer’s
The Health Reimbursement Account is beneficial