The DRA is Paired Perfectly with Other Benefit Plans
A Deductible Reimbursement Account (DRA) enables employees to pay for out-of-pocket medical, dental, vision, and prescription drug expenses with post-tax dollars.
- Tool for employee’s HSA account while growing their savings
- Bridge the gap when changing from a FSA to an HSA account
- Excess funds at the end of the year can be used to fund HSA account
Health Reimbursement Account (HRA)
- Account for employees who are responsible for paying the first portion of their deductible expenses
Flexible Spending Account (FSA)
- Excess funds for employees who anticipate exceeding their medical/limited FSA contribution limit
Eligible Expenses listing
- Ambulance fees
- Chiropractic care
- Coinsurance, Contact lens(es) & solution
- Dental fees
- Diagnostic testing fees
- The total election amount is available for use on the 1st day of the plan year!
- Excess money left in the account at the end of the plan year or upon termination will be refunded!
- Contributions are payroll deducted throughout the entire plan year!
- No overspent accounts!
- Employers can payroll deduct employee who have over-spent account upon an employee’s terminations!
- No IRS oversight on DRA maximum!