1. What is a Health Reimbursement Arrangement (HRA)? An HRA is an IRS approved account funded by your employer to reimburse you for your medical plan out-of-pocket expenses as described on the previous page. Any reimbursements you receive will be tax free. 2. How do I participate? You must be enrolled in your company’s medical plan to participate in the HRA. If you are, then you are automatically enrolled in the HRA.
6. Do I have to submit claims within a specific time limit? Your plan year is to . Expenses must be incurred during the plan year to be eligible for reimbursement. You have days after the plan year to submit claims for reimbursement for expenses incurred during the plan year. 7. If I do not use my full reimbursement amount by the end of the plan year, will I be able to use it next year?
3. How do I get reimbursed? You will need to submit a copy of your Explanation of Benefits (EOB) showing date amounts applied to the year-to-date deductible. If you or your dependents have additional medical insurance coverage: Because IRS regulations do not allow the HRA to reimburse any expense being paid from another source, employees who have secondary medical insurance coverage or dependents with additional medical insurance coverage must provide an EOB from both your primary and secondary insurance companies.
8. What happens to these funds if I terminate employment? You will have days after the plan year to submit claims for expenses incurred between your effective date and the month in which you terminated.
4. How long will it take to be reimbursed? Reimbursement requests with all appropriate documentation are usually processed within five business days or less. Checks are generated and mailed three times a week, or you can choose to have your payments made through Direct Deposit (if available).
Who do I call if I have questions? If you have questions call Peak1 Administration's MemberCare Department. Monday - Friday 7:00 AM - 5:00 PM PST
5. How do I sign up for Direct Deposit? A Direct Deposit form is available online or by calling Peak1 Administration’s MemberCare . You can sign up for Direct Deposit anytime.
1299 West Riverstone Drive Coeur d’Alene, Id 83814 866 | 315.1777 fax. 866 | 469.4869