Please what is a health care reimbursement account?

Question

Is hcra the money deducted from my bi weekly paycheck for health insurance or is it a seperate account i have to set up? I really need to know because i have a pwa card but the amount of money on it cannot cover my current dental expences so i have to pay with my own money. I want to know if there is anyway i can claim the money back.

Answer 1

Healthcare Reimbursement Account, or an HRA, is a high deductible health insurance plan that your employer uses as a stop-loss, in order to provide you with more cost-effective health insurance.  While I cannot say for certain without being your insurance agent, the bi-weekly deductions are most likely your contribution towards the health insurance plan.

So no, there is probably no way you can claim the money back.  

However, you may wish to speak to your employer about adding on a Flexible Spending Account, which makes good financial sense for both the employer and the employees.  It will help you pay for your dental and medical expenses pre-tax, which can wind up saving you huge amounts of money.

I hope this helped!

Answer 2

Ever heard of FSA's???

Flexible spending accounts