Health Reimbursement Arrangement (HRA)
The Educators Benefit Consultants (EBC) Health Reimbursement Arrangement
(HRA) is a tax-free savings program that allows employees to be reimbursed
for their eligible health care expenses. An HRA is an employer-sponsored
benefit, established through the collective bargaining process for union
employees or through a mandated personnel policy for non-union employees.
Employer contributions made on behalf of employees into EBC’s HRA will be
placed in a trust arrangement commonly referred to as a VEBA (Voluntary
Employee Beneficiary Association) as established in Internal Revenue Code
501(c)(9). Any employers and employees participating in this program will
abide by the rules set out in the Plan and Trust Documents provided by EBC.
Click Here For More Information on HRAs
Health Savings Account (HSA)
A Health Savings Account (HSA) is a tax-exempt account established exclusively for the purpose of paying for qualified medical expenses incurred by the account beneficiary (eligible individual).
An HSA account is individually owned, which allows you to make decisions
regarding contributions and deductions. HSA’s can be funded by you,
your employer or both.
Click Here For More Information on HSAs
Section 125 Flex Plan
A Section 125 Flexible Benefits Plan (Flex Plan) enables you to reduce
your taxes and your employees’ taxes on eligible expenses. It is authorized
under Section 125 of the Internal Revenue Code.
Click Here For More Information on Flex Plans
403(b)/457 Administration and Compliance Service (ACS)
Click Here For More Information on ACS
Click Here For More Information on COBRA