How to Set Up a Small Business HRA

You can boost employee retention rates and their moral by offering tax-free reimbursement with customizable health insurance plans. All you need is a small business HRA! You may want to know how to set up a small business HRA, don’t worry this article will guide you.

You can set up an HRA with a few simple steps. Wondering where to start?

1.    Pick A Start Date

2.      Pick A Cancellation Date For Your Old Group Policy

3.      Confirm Who Will Be Eligible

4.      Determine A Budget And Set Allowances

5.      Establish Legal Plan Documents

6.      Communicate Your New Benefits To Employees

7.      Provide Resources For Employees To Purchase Individual Health Insurance

PF Compass can provide the best on and off-market options for your employees based on their budget, requirements, preferred doctors, and their prescriptions.

We can help you with HRA administration by managing all aspects of your HRA plan. Our team will guide you through the pros and cons of key decision points necessary to establish your HRA plan.

Contact us today to begin your HRA plan!

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Created on Nov 9th 2018 06:17. Viewed 418 times.

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