Health Reimbursement Accounts (HRA)
Understanding a Health Reimbursement Account (HRA)
With a Horizon MyWay Health Reimbursement Account (HRA), you have a high-deductible health plan (HDHP) and an HRA to help you manage your health care costs. An HRA is an employer-funded reimbursement account that you can use to pay for qualified out-of-pocket health expenses not covered by insurance and deemed eligible by your employer, as outlined in your plan. This includes:
- Other out-of-pocket costs
There are three parts of the Horizon MyWay HRA plan:
- A comprehensive HDHP, such as a Horizon PPO, Horizon EPO or Horizon Direct Access plan
- An employer-funded, easy-to-use HRA
- Tools, resources and support to help you make informed decisions about your health care
How does an HRA work?
Your employer chooses how much to contribute to your HRA when you enroll. The money does not count as income, so there are no tax implications. Money is not taken from your paycheck to fund your HRA. The money in the HRA does not roll over from year to year1.
Once your claim is processed and it is determined how much will be paid, your health care professional will receive payment directly. In most cases, you do not have to take any action.
Once you use all of the money in your HRA, you are responsible to pay for any remaining health plan expenses such as deductibles and coinsurance.
Please check with your benefits administrator for specific information about how your employer will set up your HRA.
1 Depending on your employer’s health benefit plan design, unused HRA money may be carried forward to the next plan year.
Sign in to our secure Member Online Services to access your Horizon MyWay HRA information, tools and resources 24 hours a day, seven days a week. Once signed in you will be redirected to our secure vendor’s website to view:
- Up-to-the-minute account balance
- Account activity
- Claims history
- Payment Information (check date, check number, check amount, reimbursement history)
- Account activity