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HRA Administration Services, HRA Insurance Plans | PF Compass

HRA stands for Health Reimbursement Arrangement. It is actually a health benefit that is funded by employers and offers tax benefits. But this is possible only with effective HRA administration services. Therefore, robust HRA administration software is needed. You must be very selective while choosing such software. <br>https://www.pfcompass.com/our-services/hra-administration/

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HRA Administration Services, HRA Insurance Plans | PF Compass

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  1. Features To Look For In Your HRA Software For Administrative Services

  2. Features 01 EHA (Employee HRA Allowances) 02 HRACS (HRA Claim Submission) 03 HRAC (HRA Claim Processing)

  3. EHA (Employee HRA Allowances) This feature is very useful for employers. It helps them give their employees HRA allowances on monthly, annually or even hourly basis. They need this special feature for monitoring HIPAA as well as ERISA Discrimination Compliance rules. As far as differed allowances are concerned, it must help you ensure it for newly hired employees. You will need this special feature in your software for suspended HRAs to your former employees as well. But these employees should the ones’ you will re-hire on a seasonal basis.

  4. HRACS (HRA Claim Submission) This is another useful feature you should look for in the software you want to purchase for administering HRA. This feature is required to help your employees submit claims online. They should be able to do so through fax or an e-mail to their plan supervisor. This feature in your software is needed also for two more purposes mentioned below: • Help employees receive an e-mail acknowledging their claim immediately. • Help employees get an online link to monitor the status of the claim.

  5. HRAC (HRA Claim Processing) This is another essential feature you must look for in your potential software for HRA administration services. It is because the claims of your employees should be processed as soon as possible. This should be maximum within 24 hours of time. • More importantly, your employees deserve to know the status of their claims using the following options: • Online Chat • E-mail • Fax • Telephone • Mail

  6. From experience to resources, we have everything to help you purchase a robust software forHRA Administration Services. Let’s get connected and discuss your needs in this regard!

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