HRA- Health Reimburse Account is a an IRS- approved, Employer Funded, employer health benefit plan that reimburses employees for out-of-pocket medical expenses.

 

An employer will make available for the employee a certain amount of money to pay for medical expenses.  In the case the patient has a deductible and money available in the HRA, the HRA will pay the full “Allowed” amount.

Example, the employee will have $800 in their HRA account.  

*HRA account is personal financial information and cannot be verified by you, the provider.  Only the patient can verify the account balance

*Provider will submit the claims as normal to insurance, and if funds are available, the funds from the HRA will be used to reimburse for services.

*How can the provider see the HRA payment?  The payment is visible for the EOB or the electronic payment.

*HRA funds exhausted, when the funds are depleted, no funds can be released for reimbursement

-HRA funds depleted and patient has not obtained their deductible.  What happens now? Example, the $800 HRA has been depleted and the patient has a $2,000 deductible.  

-The patient is to pay out-of-pocket for services.  

-The patient may inquire on their HRA balance

-The patient may call their insurance for clarification on their benefits.  Deductible/ Accumulations/ Co-insurance

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We offer Patient Insurance Verification as a Standalone offering

See us at https://backup.mcmsouth.com/services-offered/insurance-verification/