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COVID-19 Developments: BASIC is committed to providing our clients and their employees with the very best service possible during this difficult period. We encourage Employers and Participants to take advantage of our e-technology options. Employers and Broker Partners, stay up-to-date with the latest COVID-19 news by checking out our BASIC Blog.

HRA
Administration

Expert HRA plan designs, administrative flexibility,
and high quality administration.

HRA features that benefit you:

HRA industry leader and
compliance experts

Fully integrated with all of
BASIC’s CDA services

Flexible plan designs
(Traditional, QSEHRA, ICHRA and EBHRA)

One benefit of choosing a Third Party Administrator as your HRA Administrator is the ability to change medical carriers from year to year and still offer consistent HRA administration for your employees.

Maximize Healthcare Dollars

A Health Reimbursement Arrangement (Simple HRA) remains the top choice for employers who value complete plan customization to maximize their healthcare dollars. HRAs can be paired with any type of health plan and employers determine contribution amounts and eligible expenses to best fit the specific needs of their workforce. Employees spending money from an HRA tend to consider their healthcare purchases more carefully; thus rewarding both the employer in reduced reimbursements and the employee in less out-of-pocket costs.

First Dollar Plans reimburse eligible out-of-pocket medical expenses, starting with the first dollar.
Comprehensive Plans offer design flexibility by categories of expenses for reimbursement eligibility, including co-pay, deductible, RX, coinsurance, dental, and vision. Any money left at the end of the year can be carried over to the next year, providing incentive not to use all their funds.
You decide if reimbursements are paid from their BASIC FSA or HRA plan first and we make sure there is no double dipping.

BASIC CDA makes the most of your employer sponsored benefit plan

BASIC Consumer Driven Accounts (CDA)

A cutting edge integrated system allowing employers and participants to manage all their benefit plans with one card, one website, and one mobile app.

Employers can choose to enrich their benefits package with a wide range of healthcare benefit accounts like FSA, Simple HRA, or HSA.
Combine with a variety of available benefit accounts such as Dependent Care, Commuter, Wellness Rewards, Employee Crisis, and Education Reimbursement.

BASIC Card

All participant benefit accounts and MyCash account are linked to a single card.

Proprietary smart card technology withdraws funds from the appropriate account(s) based on plan design and expense eligibility.
The BASIC Card can be used anywhere Mastercard is accepted.
Learn more about the BASIC Card.

BASIC Benefits App

With a single app, participants can manage all their BASIC benefit accounts.

Participants can request and submit manual reimbursements or select Picture to Pay provider.
Check expense eligibility anytime, anywhere.
Lock or unlock the BASIC card if lost, stolen, or found.
Learn more about the BASIC Benefits app.

MyCash

MyCash is an unrestricted post-tax reimbursement account linked to participants’ BASIC Cards.

Reimbursements are deposited directly into the participants’ MyCash accounts.
MyCash enables the fastest reimbursement time possible. Faster than check or direct deposit!
Participants can use their BASIC Card to access MyCash funds or they can be transferred to another bank account.
Learn more about the MyCash account.

Picture to Pay

In three quick steps, participants can have BASIC pay healthcare providers directly on their behalf with our “Picture to Pay” feature. No paper, no postage, and no hassle for the participant. All with no additional fees for employers!

Participants take a picture of the provider’s bill
Submit the photo to the BASIC Benefits app
BASIC pays the provider from the appropriate benefit account

Dedicated Account Managers

Every client receives a dedicated account manager. All of our account managers are well versed in Health Reimbursement Accounts and certified in employee benefit administration by IFEBP.

What is an HRA?

Traditional HRA

A Health Reimbursement Arrangement (HRA) must be funded solely by an employer. The contribution can’t be paid through a voluntary salary reduction agreement on the part of an employee. Employees are reimbursed tax free for qualified medical expenses up to a maximum dollar amount for a coverage period. An HRA may be offered with other health plans, including FSAs.

Employers have complete flexibility to offer various combinations of benefits in designing their plan.

Additional Types of HRAs

QSEHRA (Qualifed Small Employer)

An employer with fewer than 50 full time employees and does not offer a group health plan to any employees
The Small Employer HRA must be provided on the same terms to all eligible employees. However, the Cures Act allows benefits under the HRA to vary based on family size in order to help with varying health insurance plan costs
The maximum contributions for 2020 are $5,250 for individuals and $10,600 for families

ICHRA (Individual Coverage)

ICHRAs allow employers to reimburse employees for substantiated individual insurance or Medicare policies
No reimbursement limit
Employers may not offer a choice between an ICHRA and a traditional group health plan
Employers must offer the same ICHRA terms to all employees within a class of employees
ICHRA coverage can make someone ineligible for a premium tax credit; therefore participants may opt-out

EBHRA (Excepted Benefit)

Must offer major medical coverage
$1,800 annual limit for 2020 (indexed annually)
Can reimburse dental, vision, and STLDI premiums and out-of-pocket medical expenses, but doesn’t have to offer both
Cannot be used to pay premiums for individual health coverage, Medicare, or non-COBRA group
Must make available to all similarly situated employees
Cannot offer both an ICHRA and an EBHRA to the same person