If you're an employee setting up your health reimbursement arrangement, chances are you're wondering about what you'll need to submit for your HRA in order to get started, remain compliant, and get reimbursed. Here's what to know!
Essentially, you're being handed a blank-check of pre-tax money to spend on what you need up to a certain amount, deemed by your employer. There are a few things you need to know in order to take advantage of these benefits. Today we’re answering the question, “What do I need to submit for my HRA?”
We're operating under the assumption that your employer has offered you either a:
QSEHRA - the qualified small employer HRA works for businesses with less than 50 employees that do not offer a group plan.
ICHRA - the individual coverage HRA allows for tax-free reimbursement of benefits for any size business and for any amount.
In terms of what you'll need to submit, the requirements are about the same. Keep reading!
What do I need to submit for my HRA?
To receive reimbursements through the HRA, you must have HRA-compatible health insurance that qualifies as Minimum Essential Coverage (MEC). Most major medical plans today meet MEC requirements, such as tiered plans purchased from Healthcare.gov, Medicare (A or C), and more. Tiered has a "metal" attached to it - look for silver, bronze, gold or platinum in the plan name.
Plans that do not qualify include: critical illness, indemnity, short-term plans, vision or dental only, and plans that only offer discounts on medical services.
1. You'll need to submit Proof of Coverage to receive reimbursements. Depending on your type of insurance, proof of coverage can look like:
- a monthly bill from your insurance provider
- a screenshot of the confirmation page from your enrollment
- an e-mail confirmation of your enrollment
- your healthcare.gov confirmation page
- a recent bill or statement
- a Medicare or military ID card
- or even a screenshot from your health insurance online portal
- QSEHRA only: photo or confirmation of spouse's insurance coverage with your name as a dependent.
We’ve covered in more detail what is proof of coverage for QSEHRA, if you want to check that out!
2. Set up recurring payments so you don't have to worry about premium reimbursements each month.
When you upload your proof of coverage on our platform, you'll have the choice to set up as a recurring payment. Do this! It will save you time and ensure that you don't forget to submit your premium payment for reimbursement each month. That's not an expense you want to miss!
3. Submit receipts to be reimbursed for eligible expenses.
If your employer is offering to reimburse for medical expenses as well as premiums, then you'll need to submit receipts to get reimbursed on your paycheck. After a doctor’s visit or a prescription refill, simply snap a picture of your paid bill (or receipt) and submit it for reimbursement. This may seem obvious but often gets overlooked! Employees have to prove they spent money on an eligible health expense before they can be reimbursed.
Wondering which medical expenses are reimbursable through HRAs? You might be pleasantly surprised!
When you upload proof of coverage, a recurring expense will be set up in your account so you can be reimbursed each month for your premium. Take Command will present your employer with a report each month and your employer will reimburse you on your paycheck. Note: reimbursements come from your employer, not Take Command.
Still have questions?
It’s possible we’ve anticipated some of your questions and answered them in our top HRA questions from employees. We also have a slew of information on our blog, and a team of HRA experts on-hand to help you!
Email us at firstname.lastname@example.org or chat with us in the bottom right-hand corner. We're happy to help!
A wife to one and mother to four, Keely does all of the things. She’s also dabbled in personal finance blogging and social media management, contributed to MetroFamily magazine, and is passionate about good food, treasure hunting and upcycling. With a B.S. in Psychology from the University of Oklahoma and a knack for a witty punchline, it’s no surprise that Keely’s social posts are as clever as they get. In her (very little) free time, you’ll find Keely with her nose in a book or trying out a local restaurant with her family.