ENLIGHTEN HRA\VEBA
An HRA is a Health Reimbursement Arrangement that allows out-of-pocket health related expenses to be reimbursed to the employee by their employer. An HRA must be integrated with an employer group health plan. Money set aside for each employee can be used for current health related costs, unused balances can be carried over to future years and even used post-employment.
A VEBA is a Voluntary Employee Benefits Association that allows the employer to make contributions to the employees on a tax free basis. The contributions made by the employer are put into each employee’s account and the employee can direct how the funds are invested. The Enlighten VEBA currently has 19 investment options for the employee to choose from. BPAS is the plan administrator, handling investment fiduciary services as well as paying the claims. Please access the link below for more information on the Enlighten VEBA.
