Health Reimbursement Arrangements (HRAs) are a great alternative for small to medium businesses to offer as a benefit to employees instead of a group health insurance plan. HRAs are an individual based plan that can be used to reimburse employees for their medical care expenses including premiums for their individual health insurance. No more unnecessary struggling with expensive, catch-most group plans.

Employers determine the amount of the contribution to employees but must make sure that each specified class of employee is offered the same benefit amount. Employees can then acquire their own health insurance from the Colorado Marketplace adding flexibility for employees to select coverage that best meets their needs and budget. Each month the employee submits their receipt for payment of their health insurance premium and then the company reimburses them up to the agreed amount.

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