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August 29, 2011 at 08:00 PM
Federal officials have cleared up a question concerning health reimbursement arrangements (HRAs).
Members of the employee benefits and executive compensation group at Ballard Spahr L.L.P., Philadelphia, a law firm, discuss the move, by the U.S. Department of Health and Human Services (HHS), in a client alert.
The move – an HHS decision to grant temporary relief – applies to stand-alone HRAs affected by the annual benefits limits ban imposed by the Patient Protection and Affordable Care Act of 2010 (PPACA).
An HRA is an arrangement that gives employers and employees a way to save for an employee’s health care costs without paying taxes on the contributions. Unlike the holder of a health savings account, the holder of an HRA can use low-deductible or no-deductible health insurance.
