The SuperMed Health Reimbursement Account, or HRA, is an employer-funded payment plan that offers comprehensive and flexible cost coverage. By pairing high deductible health plans with an HRA, you can help your employees’ meet their annual deductible and also encourage them to more efficiently manage their medical costs. Adding a SuperMed Health Reimbursement Account will also enhance your benefits package and help to attract and retain potential employees.
How a SuperMed HRA Works
A SuperMed HRA helps cover medical expenses that are subject to the deductible incurred by your employees, their spouses and dependents. Each plan year, your business makes a contribution to each employee’s HRA. With Medical Mutual, you have the flexibility to design a plan that has copays and coinsurance which your employees would be responsible to pay. The HRA is then used to pay providers directly, eliminating the need for your employees to pay for the cost of services and then await reimbursement. Once your employee has used up the amount you contribute to their HRA, they are either billed for their remaining portion of the deductible or for their coinsurance amount.
Health plans that work with an HRA do come with higher deductible limits. The HRA can be used to fund a portion of the deductible. Your employees are not able to use the money set aside for other out-of-pocket expenses such as copayments, coinsurance and non-covered services. This helps ease the apprehension your employees may have about a higher deductible, while still providing you with affordable coverage plans.
Simple for Employees
- Our versatile plan designs allow employers to custom build their HRA plan to meet the size and budget of their business.
- Claims are processed quickly and efficiently through Medical Mutual. HRA activity is noted on the Explanation of Benefits (EOB) and available online through the My Health Plan member web portal.
- The doctor, hospital or healthcare professional is paid from the HRA.
Simple for Employers
- Employees have access to the SuperMed network of doctors and hospitals.
- All claims are processed by Medical Mutual.
- Employers have the choice of weekly or monthly billing and reporting for HRA activity.
- This program features low administrative rates of $2 per employee per month.
- A variety of funding options are available to employers.