Why Outsource HRA Administration?
One word - convenience. All employers want to take advantage of HRA tax-advantaged healthcare solutions offered by ICHRA Masters, however some may not want to deal with the day to day administrative issues or the HIPAA liability that comes from handling employee protected health information.
For these clients we now offers a state-of-the-art online portal for HRA plan administration, plus the added convenience of a MasterCard© debit card for every employee. Debit cards allow your employees to instantly access their account balance. Employees will no longer have to wait for reimbursement.
Employees can also: enroll online, make instant changes to their information, and access their account balances and information via any Internet connection, any time of the day, seven days a week. This virtually eliminates internal inquiries by employees about their plan.
How much does HRA Administration cost?
Unlike many administrators of HRA plans, Insurance Masters does not have a minimum monthly charge for small employers.
HRA Administrative Fees are per employee
Group Size Set Up Fee* Monthly Fee
1-5 employees $10.00 $10.00
6-10 employees $9.00 $9.00
11-19 employees $8.00 $8.00
20-100 employees $7.00 $7.00
101+ employees call for quote call for quote
* Minimum setup fee of $100.00 for HRA may apply depending on the administrative options chosen.
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