HRA Administration

Now, more than ever, healthcare dollars need to go further.  With a Health Reimbursement Account (HRA), they can.  HRAs are fully-funded by the employer and designed to help employees pay for medical expenses that may not be covered by insurance.  Due to multiple plan design options, HRAs are an attractive way to help control costs and meet the specific needs of both the employer and its employees.  Money contributed by an employer to an HRA will not be considered income to the employee (tax-free) and is tax deductible to the employer.  The funds can be used throughout the year on an array of eligible expenses dictated by your company’s specific plan design.

Cobra Professionals, Inc. (CPI) specializes in providing comprehensive administration through personal service and advanced technology. We do not use an automated telephone system – a local customer service representative answers every call and returns all voice messages within 24 business hours.

At CPI, we work hard to achieve stress-free FSA and HRA administration for our clients and their employees while utilizing substantiation procedures that ensure plan compliance.  Health FSAs, dependent care accounts, and HRAs are fully integrated in one comprehensive platform for streamlined management. Our program also offers access through separate employer and employee portals. Employers can view plans, access resources, review employee data, and manage reports, while the employee portal allows for online claim submissions as well as access to reimbursement history and balances.  Our modern, cloud-based set-up allows for secure, reliable access for all parties

HRA Administration Services:

  • Flexibility in plan design (front-end deductibles, carryovers, prescription and/or dental only, etc.)
  • Preparation of Plan Document, Summary Plan Description (SPD), and Summary of Benefits and Coverage (SBC)
  • Employee enrollment materials
  • Debit card options*
  • Easy claim submission (online, fax, or by mail)
  • Claims adjudication with weekly participant reimbursement processing
  • Secure online platform with access to real-time data for both the employer and participants
  • Maintenance of required records of claims & reimbursements
  • Annual non-discrimination testing (upon request)

*not all plan designs are appropriate for a debit card