The attached Benefits Bulletin provides an overview of the final rules associated with the flexibility in offering a Health Reimbursement Arrangement (HRA). The final regulation is based on the Executive Order issued in 2017 by President Trump, and will be effective January 1, 2020.
The attached summarizes the new HRA accounts that are available to employees, the Individual Coverage HRA and the Excepted Benefit HRA, who is eligible for these accounts, the guidelines behind these accounts, and limits, if any, that apply to HRAs.
Based on this new rule, the HRA plans will differ from prior HRA regulations, so it is important to understand the revised guidelines to ensure compliance with the Employee Retirement Income Security Act (ERISA) regulations.
Contact your Cowden representative for more information on this or other compliance issues.
Read the Benefits Bulletin