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Health Reimbursement Account

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HRAs, also known as a Health Reimbursement Arrangement, are a type of spending account that is funded solely by the employer, reimburses individuals for medical care expenses, and provides reimbursements up to a dollar value, which can be carried forward.

The IRS allows an HRA to reimburse eligible medical expenses (including over-the-counter items such as insulin, medical equipment and supplies) of an employee, his or her spouse, and qualified dependents.

Note: Employers are not required to allow all expenses be reimbursed from the HRA – they are permitted to design a plan that limits reimbursement to only certain items.

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