An HRA-VEBA is a Health Reimbursement Arrangement in which your employer contributes money to a Voluntary Employees’ Beneficiary Association (VEBA) trust on your behalf. Funds held in your HRA-VEBA can be used to pay for eligible medical expenses now or in retirement; unused funds roll over year to year. Funds deposited into an HRA-VEBA are tax exempt and irrevocable. Importantly, this does not replace group health insurance; however, it does provide additional coverage options in conjunction with your existing coverage.
If you’re an employer seeking to setup an HRA-VEBA account for your employees, contact our agents today. WHA has a variety of customizable and affordable options tailored for flexibility to meet all kinds of specific needs.
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