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HRAs can also be coupled with a trust instrument creating, in essence, a “Funded HRA”. These types of HRAs are funded on a regular basis by employer contributions to a trust, commonly a VEBA Trust or a Section 115 Integral Part Trust for governmental employers. In many cases plan participants are given investment choices much like a retirement plan. As with notional HRAs described above, Funded HRAs can be coupled with a high deductible health plan or can be designed as postemployment Retiree Medical Savings Accounts (RMSAs). The advantage of this design is that it is triple-tax free; employer contributions are not taxed, earnings of the invested assets are not taxed, and claim reimbursements are made without taxation.
Nobody knows HRAs better than Genesis. We have been administering HRAs since the tax code allowed them back in 2002. Our staff includes some of the pioneering people who helped create HRAs. We are well known for our popular America’s VEBA Solution products which were launched in September of 2002.