Health Reimbursement Accounts (Guest: William Sweetnam)
William Sweetnam discusses how Health Reimbursement Accounts accounts could be a game changer for employer health insurance and the impact they can have in the individual health insurance
Trump’s order is expected to expand health care options to 11 million workers. A number of employers don’t offer group health insurance because of cost or may offer only one plan. Trump’s order reverses restrictions placed on HRA’s when the Affordable Health Care went into effect. HRA’s can give employees more options for health insurance. William Sweetnam,legislative director with the Employers Council on Flexible Compensation, discusses what HRA’s are, how they work, how employees can use them, how they differ from Health Savings Accounts and Flexible Spending accounts, and what employers who don’t offer health insurance would want to fund them.