The Liferaft webinar "Why Business Leaders Are Switching to HRAs" discusses the increasing trend of Health Reimbursement Arrangements (HRAs) and their appeal among businesses. HRAs, as tax-advantaged accounts, allow employers to reimburse their employees for various health expenses, marking a shift towards more flexible benefit models. They permit coverage for health insurance premiums and specific healthcare needs such as mental health treatments or fertility-related expenses, offering employees the freedom to choose their healthcare providers without strict network constraints.
Moreover, the webinar underscores the efficiency HRAs bring to business spending. Employers can allocate fixed budgets based on employee utilization, reducing unnecessary expenses. The tax advantages for businesses, allowing benefit deductions, are also highlighted. Different HRA plans are introduced, each tailored to specific business needs, whether individual coverage, small employer situations, supplementing existing plans, or providing additional benefits like dental and vision coverage.
The webinar also features impactful case studies, showcasing real-world scenarios where companies transitioned from traditional insurance plans to HRAs. These case studies demonstrate significant cost savings, increased employee satisfaction, and the ability to offer more tailored benefits such as mental health and reproductive care coverage. Overall, the webinar outlines how HRAs present a flexible, cost-effective, and adaptable solution for businesses seeking to enhance their employee benefits offerings.
Book your consult with Liferaft
Our team knows the ins and outs of the health insurance marketplace and will guide you towards the solution that make the most sense for your business and your team. Come with questions! Our experts are happy to dig into the details to get you the clarity you need.
During the call, Liferaft will run a cost-benefit analysis on your company's current healthcare spending and show you different ways you can save—without sacrificing plan quality. After your consult, Liferaft will design a unique plan for your employee's health insurance, including suggested plans and accounts, plan policy documents, and the annual budget.