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Benefits Strategy terms
What employers offer and why.
Health reimbursement arrangement (HRA)An employer-funded plan that reimburses employees tax-free for medical expenses and, in some versions, individual health insurance premiums.Health savings account (HSA)A tax-advantaged personal account for medical costs that is open only to people enrolled in a qualifying high-deductible health plan.ICHRAAn employer-funded account that reimburses employees tax-free for individual health insurance premiums they buy themselves, with no federal dollar cap.Professional employer organization (PEO)A firm that co-employs your staff and runs payroll, taxes, benefits and workers' comp under its own accounts for a per-employee fee or share of payroll.QSEHRAAn employer-funded account for businesses under 50 full-time equivalent employees that reimburses workers for premiums and medical costs up to an annual cap.Section 125 planAn employer cafeteria plan under IRC section 125 that lets employees pay for benefits such as health premiums with pre-tax pay instead of taxable cash.