We specialize in Health Reimbursement Arrangements (HRAs) providing flexible benefits to complement their healthcare coverage, addressing diverse needs and preferences. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are also some alternatives options. From there we can offer your employees a range of health insurance options including Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and High Deductible Health Plans (HDHPs).

Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and Flexible Spending Accounts (FSAs) offer tax advantages, allowing employees to pay for qualified medical expenses with pre-tax dollars, leading to potential savings on healthcare costs. HSAs also feature the added benefit of funds rolling over year to year and investment growth opportunities, making them a valuable tool for long-term health savings.

A Health Reimbursement Arrangement (HRA) is an employer-funded plan that reimburses employees for qualified medical expenses up to a fixed dollar amount per year. Contribution are tax deductible for employers and reimbursement are tax-free for employees when used for qualified expenses. Unused amounts may be rolled over to the next year, depending on the plan's terms set by the employer.

- **Best for**: Companies looking for flexible, employer-controlled health benefits that can be tailored to complement other health benefits.

A Health Savings Account (HSA) is a tax-advantaged savings account available to individuals enrolled in a high-deductible health plan (HDHP), allowing them to save money for qualified medical expenses. Both employees and employers can contribute, subject to limits. Contributions are made pre-tax, interest grows tax-free, and withdrawals for eligible healthcare costs are not taxed.

- **Best for**: Employers wanting to offer employees a way to save pre-tax dollars for near-term medical expenses, with the benefit of reducing taxable income.

A Flexible Spending Account (FSA) is a tax-advantaged account Available only to individuals enrolled in a qualifying high-deductible health plan (HDHP). Employees can contribute to pre-tax for out-of-pocket healthcare expenses. Both can contribute, with higher contribution limits compared to FSAs. Funds must be used within the plan year, with some plans allowing a small carryover or grace period for spending unused amounts.

- **Best for**: Companies with employees enrolled in HDHPs, looking for a savings vehicle with tax advantages that employees can take with them if they leave the company.

- **Budget and Control**: HRAs offer employers the most control over costs, as they decide how much to fund without requiring contributions.

- **Flexibility and Use**: FSAs provide immediate access to funds for employees but have a use-it-or-lose-it rule, making them suitable for predictable, short-term medical expenses.

- **Savings and Investment**: HSAs offer long-term savings with investment options, ideal for employees with HDHPs who want to save for future medical expenses.

Companies will select among these options based on their financial situation, the type of health insurance plans they offer, and their goals for employee benefits. Each option has distinct regulatory requirements and tax implications that can impact both the employer's and employees' choices.

The Small Business Health Options Program (SHOP) is a health insurance marketplace created under the Affordable Care Act (ACA) that allows small businesses (generally those with 1 to 50 employees) to offer health and dental insurance to their employees. SHOP provides a platform for these businesses to compare and purchase coverage, potentially qualifying them for the Small Business Health Care Tax Credit.