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New Small Business HRA (SBHRA) Plan Document Available for Special $199 Introductory Price Once Approved by the White House

Name: Core Documents
Brand: Core Documents
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Core Documents Introduced the New Small Business HRA aka Qualified Small Employer HRA to Reimburse Individual Non-Group Health Insurance Premium for only $199

Update December 7, 2016
Today the Senate passed the 21^st Century Cures Act. The Act contains the provisions of the Small Business Healthcare Relief Act, which enables small employers with less than 50 full time employees to provide standalone health reimbursement arrangements that can be used to reimburse eligible healthcare expenses including health insurance premiums. The law is effective for plan years beginning after December 31, 2016, but importantly, it provides transition relief through that date so that any small employers with non-compliant plans will not be penalized. The legislation still requires the approval of the White House, but President Barack Obama has expressed his support for the SBHRA, so a new solution for beleaguered small businesses is almost certainly on the way.

Core Documents, Inc., the nation’s leading provider of affordable Section 125 and HRA Plan Documents, has introduce the new Qualified Small Employer HRA for the initial discounted price of $199 for a limited time.

H.R. 5447 creates a safe-harbor for Individual Health Insurance Premium Only HRA. It specifically allows small businesses with fewer than 50 employees to give pre-tax dollars through a Health Reimbursement Arrangement (HRA), to help employees purchase a health plan in the individual market. It allows that HRA to be used to pay for qualified health expenses on a pre-tax basis. To qualify, an employee would need to have health insurance coverage, and reimbursement payments to any given employee would be capped at $5,130, indexed for inflation (if an HRA also provides for reimbursements for an employee’s family members, the cap is $10,260). Under this proposal, employees would be prohibited from receiving a double benefit from qualifying HRAs and Obamacare premium tax credits. H.R. 5447 also establishes a number of notice and reporting requirements. The bill mandates that employers provide eligible employees with a written notice containing the amount of the employee’s permitted benefit. Additionally, the bill requires that employers report contributions to a reimbursement arrangement on their employees’ W-2 forms.

QSE-HRA Plan Document Package

Core Documents, Inc. has been providing free consulting, affordable plan documents, and plan updates as needed for Section 125 Cafeteria Plans and Health Reimbursement Arrangements since 1997.