Common use of HRA Clause in Contracts

HRA. Employees who enroll in the Gold CDHP plan and who choose an HRA will be provided the following: a. HRA amount $4,000 for Family; $4,200 for the 2 Person or Adult/Child(ren) plans; $2,100 for Single plan, pro-rated for January 1, 2018 – June 30, 2018 based on the time period in which the HRA is in effect. The funding noted above is available immediately upon the effective date of the HRA plan. b. Covered expenses include applicable deductible expenses, and co-insurance expenses, including prescription expenses. c. Employee will contribute first dollar up to the following amounts: $1,000 for Family; $800 for 2 Person or Adult/Child(ren); $400 for Single plan, pro-rated for January 1, 2018 – June 30, 2018 based on the time period in which the HRA is in effect. d. Employee will pay administrative costs equal to the difference between the administrative charge for H.S.A. and HRA. e. HRA approved expenses are paid directly to the employee. Employee cannot change this feature. There is no individual payment cap. f. Runout – the amount of time after the end of the plan year in which claims can be submitted is 60 days. g. Residual funds unused at the end of each year revert to the Employer. h. Amount of funding for employees hired for less than a full plan year will be prorated monthly.