An
HRA allows your company to reimburse employees for health insurance
premiums, long-term care premiums, and certain out-of-pocket medical
expenses as a tax-free fringe benefit. This can immediately
reduce your taxes and save you thousands of dollars.
To
get your HRA in place, simply fill out the form below, and submit
your payment by credit card. In 48 hours you will have all
your Plan Documents, your Summary Plan Description, and a login
and password to access your account. There you can track
your reimbursed expenses, which will be reviewed by our HRA advisors
to ensure they are all eligible.
Our
average member is saving over $3,000 by having an HRA. If
you do not save money by having an HRA, let us know and we’ll
give you a full refund. Health insurance expenses can be
reimbursed from the beginning of the year, but other out-of-pocket
medical expenses can only be reimbursed once the HRA is established,
so do not delay in getting your HRA in place.
All
information will be kept confidential, and is requested solely for
the purpose of providing you accurate advice (see our Privacy
Statement).
Employer Information:
Corporations:
Enter
the company name followed by the employer/owner first and last name. The
web application will recognize the corporation and put the documents in the
Company/Corporation's name. Employer ID is not required.
Sole-Proprietors:
Company name and Employer ID is not required. The spouse employee information
will be entered on the next page.
Email:
A legitimate email is required. We will use your email to send a unique
user ID and Password.
This
is basic information about each employee that will qualify for the plan.
Sole-Proprietors:
The employee will be the spouse.
Corporations:
In a corporation, spousal employment is not necessary. List the owner
as the employee. You do not have to enter the spouse as a second employee.
Partnerships:
The partners cannot be employees of the partnership, spousal employment is mandatory.
The spouse of each partner will be an employee and receive benefits which would
include the partner.
List
all employees that meet the eligibility requirements for the plan. An
additional fee of $97 applies to each additional employee (not including Spouse).
If you have more than 7 employees, please contact us.
Please
specify the job description for the employee(s). The information in this
section is used to create an Employer/Employee agreement which is used to solidify
an employer/employee relationship between a sole proprietor and his/her spouse.
Generally, a corporation would not use this section, since the owner is typically
an employee of the corporation and does not have to prove employment in order
to receive benefits.
Sole
Proprietors:
Use the Job Description section to choose general duties that are performed
by the spouse employee.
Corporations: An employer/employee agreement is optional.
Partnerships:
Partners who employ their spouse will need to fill out an agreement.
You
may add any additional information to the Employer/Employee Agreement below.
This text box is used to create custom language in the Employer/Employee agreement.
The text entered here will not appear anywhere in the plan documentation except
for the employer agreement. Use this section to enter specific language
for such items as: commodity wages, exact cash wages, hourly information, etc.
Employer/Employee
Agreement:
Plan Details:
The Plan Detail
section is used to establish the basic business information.
Controlling
Interest: If the employer owns controlling interest in another company, any benefit
they provide for the employees of this business must be offered to the qualifying
employees in the other business.
The
Plan Start Date:
The plan start month by default is January. Out of pocket expenses may
only be deducted from the inception of the plan forward.
The
Plan Administrator: The plan administrator is a named individual, typically an employee of the
company or the employer.
Do you
have controlling interest in another business?
When
will the plan start date be?
Who will
be the plan Administrator?
Eligibility Requirements:
This
information is used to include or exclude employees from the plan. The
employee must meet all of the requirements above in order to qualify for participation
in the HRA.
Hours
Per Week - Enter the "average" hours per week the spouse/employee
works in the business. Use the safe harbor rules below if needed. There is no
minimum. However, in order to have a fair and reasonable wage, the hours
should rarely be below 5.
Months
Per Year - This is for seasonal employees. Those employees employed
less than 7 months a year may be excluded. See the safe harbor rules for
seasonal employees below for further guidance.
Age
of Employees - 25 years is the maximum age used to exclude employees.
New
Employees - Use this requirement to exclude new employees after the plan
has been established.
Part-time
employees: The
safe harbor rule defines part-time employees as employees whose customary weekly
employment is less than 25 hours per week. Part-time can also include
employees who work less than 35 hours per week if other employees in similar
work or the same industry have substantially more hours (facts and circumstances).
Seasonal
employees:
The safe harbor rule defines seasonal employees as employees whose customary
annual employment is less than 7 months. Seasonal can also include employees
who work less than 9 months if other employees in similar work or the same industry
have substantially more months (facts and circumstances).
This
information contains the elected benefits of the plan and is chosen by the employer.
The 'Carry Over Feature' allows the employee to utilize unused benefits in future
years.
