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Health Reimbursement Account

What is Health Reimbursement Account (HRA)?

An HRA Health Reimbursement Account is a tax free group incentive that is sponsored and owned by the company for employees to use for eligible medical expenses. Employers take decisions for yearend rollover options in addition to a set dollar sum available for use on qualifying expenditures per year that can be of medical: dental, vision, and medicines.

Related: Health Savings Account (HSA), Health Maintenance Organization (HMO)