Negotiate and Win with Our HRA

More and more, public sector employees and bargaining units are requesting these plans, sometimes called Medical Reimbursement Plans or VEBAs. NIS (National Insurance Services) has developed five HRA Applications that help public sector organizations and their participants reduce costs.

HRA Application #1: Exchange an HRA for Medical Insurance plan design or provider changes

By providing an HRA in an amount equal to an increased deductible, a win-win scenario unfolds: participants have a better plan, and employers lower net cost and have better control over future premium increases. Click for more information.

HRA Application #2: Offer an HRA as an incentive to waive Medical Insurance participation for those with access to other plans

Participants often have access to a Medical Insurance plan through a spouse or family member. Using an HRA as an incentive to waive participation, organizations can reduce the number of participants on the medical plan, typically by 8-15%. Participants can use their HRA to pay the deductibles and co-pays on their spouse’s plan, and employers reduce total cost. Click for more information.

HRA Application #3: Provide new hires with an HRA in lieu of retiree Medical Insurance

Transitioning new employees away from an OPEB retiree benefit toward a defined contribution HRA will significantly reduce long-term costs; yet, still provide participants with funds to cover medical expenses and insurance when they retire. Click for more information.

HRA Application #4: Exchange an HRA for special payments made to retirees

If you pay unused sick leave, accumulated vacation pay or other early-retirement incentives, a tax-free contribution to an HRA could save you all wage-related costs, including the 7.65% FICA tax. Click for more information.

HRA Application #5: Exchange an HRA for the employer portion of retiree insurance premiums

An HRA in lieu of the employer contribution toward retiree insurance premiums will reduce your plan and administrative costs, as well as give your retirees the freedom to choose their own insurance provider. Click for more information.

Click icon to download a PDF of our HRA overview brochure

For Employer use only. Not for use with the general public

Securities offered through GWN Securities Inc. 11440 Jog Road, Palm Beach Gardens FL 33418 866.650.0132 Member FINRA, SIPC. National Insurance Services is not affiliated with GWN Securities, Inc.

More Financial Solutions:

Reduce or Eliminate Taxes on Special Payments Made to Employees at Retirement

Address issues related to GASB 43/45 and OPEB liabilities

FSA (Flexible Spending Account)

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