What is an HRA?
A Health Reimbursement Arrangement (HRA) is benefit funded 100% by the employer. It is designed to help employees pay for certain out of pocket expenses, tax-free. As the cost of providing medical insurance benefits continues to rise, employers are looking for creative ways to maintain benefit levels while at the same time attempting to contain […]
What are my HRA’s eligible expenses?
Eligible expenses are determined by your employer. If you are not familiar with your company’s HRA plan design, please see your Human Resources representative or contact FlexBank.
How do I request reimbursement?
We want to make it as easy for you to obtain reimbursement. In order to process your request, we must have the information required to make sure your request is for an allowable expense. To assure prompt service, please follow these simple steps. Always use a claim form, it’s short and easy. You can find […]
Am I able to receive my reimbursement via direct deposit?
It’s up to you. You may receive your reimbursement via check or direct deposit. Some employers may require FlexBank reimburse you via direct deposit, similar to requiring direct deposit for payroll.
How long will it take to make a withdrawal?
Reimbursement requests are processed on a daily basis.
When can I submit requests to withdraw money from my HRA?
You may request reimbursement at any time. However, many participants accumulate a number of receipts and submit them all at once.
Are all taxes avoided on reimbursements from my HRA?
Yes. Reimbursements from an HRA are NOT taxable for FICA, Medicare, Federal, State and Local taxes.