The YourWay HRA is the tax-free account allowing employers to contribute dollars for their employees to cover out-of-pocket medical expenses.
Employ more tax-advantaged HRA benefits.
The YourWay HRA is designed to help participants cover out-of-pocket medical expenses now and in the future. There are many different plan designs and funding sources but one thing is consistent, all contributions benefit from triple-tax tax savings and can result in over 50% combined tax savings for employers and participants.
HRA Plan Designs
- Integrated HRA (integrated with group health plan)
- Post-Separation HRA (for full use after employment)
- Post-Separation Premium Only HRA (for retiree premiums only)
- Limited HRA (for dental, vision, and long-term care)
- And many more variations that can include vesting
HRA Funding Sources
- Employer, flat-dollar contributions
- Mandatory group salary reductions
- Sick, vacation, or PTO cashouts
- Wellness incentives
- Excess or leftover benefit dollars
- Embedded contributions based on health plan selection.
- Early retirement incentive
- Employer-sponsored medical plan opt-out
- Diversion on tax-deferred contributions
Enjoy a premium service and technology experience.
Along with the financial benefits of a Funded HRA, OneBridge delivers leading technology and best-in-class customer service.
For Employers
- A robust employer portal with real-time snapshots of YourWay HRA plans, including participant listing, activity by employee, aggregated account balances, investment breakdown, etc.
- Online and census enrollment.
- Contribution upload features through employer portal or SFTP.
- Easily customized plan design features.
- Tailored reporting to address all operational, financial, and regulatory needs.
- Simplicity of stacked-offering an HRA and FSA with a single participant portal experience.
For Employees
- A single login to all benefit accounts administered by OneBridge (HRA and FSA).
- Real-time claim tracking and fast payment processing.
- Views and history of account transactions.
- The ability to quickly change information and elect direct deposit.
- On-the-go management through the HRAgo® mobile app.
- A smart debit card that automatically deducts funds from the appropriate account.
- Access to our Customer Care Center offering high first-call resolution and a team that truly provides “customer care.”
Understanding more for your benefit.
Replace lump sum payments with a tax-free solution.
When separating from service, many governmental employees and retirees are entitled to large, lump sums of pay, which can result in large tax obligations. To defer this tax obligation, these dollars are often contributed via Special Pay Plans (SPP) into a 401(a), 403(b) or 457 plan. In contrast, contributing these funds into a YourWay HRA removes the tax burden from both the employer and employee, making it the modern way to fund sick leave cashouts, retiree cashouts, and severance.
Retiree with an SPP |
Retiree with a YourWay HRA |
|
| Five-Year Health-Related Expenses ($450 per Month) | $27,000 | $27,000 |
| Federal & State* Income Tax | 25% | 0% |
| Withdrawal Needed | $36,000 | $27,000 |
| Five-Year Tax Savings |
$0 |
$9,000 |
Enhance existing benefits and mitigate rate liabilities.
Support in-service employees with pre-tax contributions.
Group medical plans mean out-of-pocket expenses. The YourWay HRA offers an additional benefit for in-service employees to cover co-pays, prescriptions, and even dependent care costs. We make it easy to pay for those qualified health-related expenses as the YourWay HRA comes with our “Smart” OneBridge Benefits Card. For those who don’t need to use the funds today, HRA contributions can be accrued, invested, and used to cover future medical expenses.
Give retirees the ability to pay for post-employment insurance.
Organizations across the country offer, or are required by collective bargaining to maintain, group medical coverage for eligible retirees. The frequency and level of medical care needs for retirees can adversely impact that plan’s experience rating, increasing premium costs. Designed to combat such rate hikes, the YourWay HRA mitigates experience ratings by replacing retirees’ participation in group plans with defined contributions. Retirees can then pay for their own premiums and medical expenses, even Medicare.
Broaden your benefit offering with the YourWay HRA.
If you’re an employer looking for tax-efficient health benefit accounts, the YourWay HRA is for you. Schedule a meeting with our team to learn more today!