Lexology July 12, 2019
On June 20, the U.S. Departments of Labor, Treasury, and Health and Human Services (the Departments) released a final rule expanding the availability of health reimbursement arrangements (HRAs) employers can use to pay for or reimburse employees for qualifying medical expenses, including premiums for individual health insurance coverage. The rule, which becomes effective Jan. 1, 2020, will significantly expand employers’ options for offering healthcare benefits.
Background
HRAs are account-based group health plans employers can offer employees, providing employees with a designated amount of funds to pay for or reimburse qualifying medical expenses on a pre-tax basis. Because HRAs are group health plans, they are also subject to certain provisions of the Employee Retirement Income Security Act (ERISA) and the...
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