(Health Savings Account and Health Reimbursement Arrangement)
HSA and HRA are employee benefits designed to reduce your overall employee health insurance costs.
What is HSA and HRA?
HSA is a Health Savings account established by an individual to pay for qualified medical expenses which anyone can contribute to. HRA is a Health Reimbursement Arrangement and is a notional account that employers use to reimburse employee healthcare costs after they are incurred and do not accumulate in a separate account.
Analyzing HSA and HRA Option Needs
The Southpoint HSA and HRA Options analysis process begin with an assessment of your current benefits program. We use various modeling tools to identify potential savings associated with these plans. We then analyze the right combination of plans to implement in order to maximize your savings.
A plan is developed and designed to reach your goals, including cost modeling, vendor evaluation and negotiation, and contract placement. The Southpoint HSA and HRA team then works with your employees to help them understand and navigate the complex healthcare system more effectively, providing them with information to save money as well.
The Southpoint HSA and HRA Options team has implemented these plans across a wide variety of industries and will be able to customize a plan unique to your business. Because we want you as a lifelong partner, we will help implement your tailored HSA or HRA program, provide regular communications to educate your workforce, perform regular contract reviews to maximize savings, keep you informed of ongoing legislative updates, and provide educational seminars to help you stay on top of your plan.
- Group Benefits
- Health Reimbursement Accounts
- Health Savings Accounts
HSA and HRA Coverage: