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What is a Health Reimbursement Account?
A Health Reimbursement Plan (IRC 105) permits employers to offer enhanced tax deductible, tax free health benefits to employees. By teaming a high deductible medical plan with a HRA employers have the flexibility to design benefit plans which reduce health plan costs today while maintaining a quality benefit package for employees.
What is a Dental Reimbursement Plan?
A DRP is a self-funded employer sponsored dental benefit plan where patients are reimbursed a percentage of their expenses. Insurance is unnecessary due to the predictability of claims, low utilization and small plan maximum reimbursements.
Employee's appreciate the DRP's friendly features such as:
Able to choose any dentist
Patient and dentist determine the proper treatment plan, not an insurance company
Encourages employees to shop for the best care at the best price
What are Cafeteria Section 125 Plans?
AA administers the three main components of a cafeteria plan.
Premium Only Plan (POP) - Employees pay their employer-sponsored insurance premiums with pre-tax dollars.
Flexible Spending Account (FSA) - Allows for reimbursement of deductibles, coinsurance, copays, and expenses not covered by your health plan.
Dependent Care FSA (DCAP) - Use tax-free funds to pay child care, elderly care, and live-in dependent care.
Here are some important advantages of using AA to administrate your cafeteria plan;
Plans are compliant with cafeteria plan rules and regulations
Coordinates with all employee benefit plans.
Automatic submission of employee medical and dental out-of-pocket expenses to their FSA - simple, efficient, and leads to timely FSA adjudication.
AA is your one-stop resource for employees to contact for all their benefit inquiries