Health Reimbursement Arrangements (HRA)
Health Savings Accounts (HSA)
Flexible Spending Accounts (FSA)
Voluntary Employee Beneficiary Associations (VEBA)
Retiree Reimbursement Accounts
Wellness Incentive Accounts
Health & Welfare Fund Administration
Business-to-Business Procurement & Sourcing
Self-Insured Benefit Plans
Long-Term, Tax-Free Benefit Solution:
VEBAs are a different way of providing health benefits for your employees. Instead of providing a standard health insurance plan and changing deductibles and copays each year; VEBAs are accounts that put more control in the employer and employees’ hands. VEBAs are tax-free benefit accounts funded by the employer to be used by the employee for qualified expenses. One of the most unique components of VEBAs is that the unused employer contributions can be rolled over from year to year and can be invested to earn tax-free interest. Because of this VEBAs can be used to help enrollees pay for their health care expenses in the short-term but also into retirement. In the end VEBAs achieve two main goals:
Voluntary Employee Beneficiary Arrangements (VEBA)
Employer contributions can be rolled over and invested by the member.
Accountholder can use funds for all IRS qualified health care expenses tax-free.
What is a VEBA:
Employer funded tax-free account to help active employees and/or retirees pay for health care expenses.
Multiple Payment Options:
Claim feed from carrier, debit card, online portal, mobile application, email, fax and mail.
Win-Win For All:
Decreases health care costs and taxes for employer and employee.
Example of VEBA Plan Design:
ER Deposits $1,000
ER Deposits $1000
EE Carries Over $500
Unused funds are carried over to next plan year and can be invested.
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