Also known as a Health Reimbursement Arrangement, an HRA is an
employer-bankrolled benefit to offset the cost of out-of-pocket medical expenses.
An HRA, as with an HSA, is often coupled with a high-deductible health plan, the key difference between being the source of funding. Employers contribute to an HRA and employees to an HSA. Funds in an HRA roll over into the next year and can, for qualified medical expenses, be tax-free.
Paired with a with high-deductible health plan (HDHP), an HSA allows employees to set aside pre-tax dollars for out-of-pocket medical expenses for themselves or for dependents.
Funneling money into an HSA reduces taxes and lightens the burden of healthcare costs. Unused balances roll over each year.
Employees ineligible for an HSA qualify for an FSA to cover out-of-pocket medical expenses for themselves or their dependents.
Aside from reaping the same benefits as an HSA, enrollees enjoy tax savings and increased take-home pay—all with the convenience of a prepaid benefits card.
A Dependent Care FSA is ideal for anyone who claims a dependent and either works or attends school full-time. Funds apply to caring for minors under age 13 who attend daycare, after-school care, or a summer day camp, as well as to dependents of any age who are mentally or physically impaired.
A Commuter Benefits plan apportions pre-tax dollars for parking at work and using public transportation to and from work. Those enrolled can apply funds to any pass, token, fare card, voucher, or any other valid means of using public transportation to travel to and from work.
Managing COBRA services can be as cumbersome as it is complex. ThrivePass’s HIPAA-compliant platform handles every facet of COBRA administration.
Along with sending timely notifications to participants and benefit providers, ThrivePass processes and transmits payments. Reminders to participants and reports to employers come standard.
Our benefits suite is always expanding.
Some organizations allow employees to stay on a group healthcare plan after retiring. ThrivePass helps with invoicing and payment transactions to ensure seamless coverage for retirees and processing for employers.
A healthy workplace is a fair workplace. ThrivePass furnishes clients with a suite of tests to ensure fairness in its FSA plans. Promote fairness—and compliance—in Health and Dependent Care FSAs with tests for eligibility, benefits, contributions, and concentration.
Both employers and employees can log into a single portal to manage their pre-tax and well-being benefits.
No phone trees: ThrivePass’s white glove service doesn’t end after implementation. We respond to most support inquiries within a business day.
ThrivePass adapts its suite of benefits to the needs of employers, brokers, and employees. The result every time is a program that embodies an organization’s culture and meets the unique needs of its employees.
Thinking about benefits shouldn’t only happen during open enrollment season. To promote informed decision-making, ThrivePass strives to engage and educate clients about their benefits year round.