Page 6 - 2015 BRP Benefits Guide
P. 6
Health Savings Health
Account Reimbursement
(HSA) Account (HRA)
The Health Savings Account The Health Reimbursement Account (HRA)
(HSA) Plan Plan
If you enroll in the BRP medical plan, you The CDHP with HRA option will be available to employees who
are eligible to use a Health Savings Account. do not qualify for the HSA. This includes employees enrolled in
The HSA permits both employers and Medicare or Medicaid and those covered by Tricare. In this case,
employees to contribute funds on a pre-tax BRP’s plan would be primary while the government plan would pay
basis and also allows funds to accumulate secondary.
and grow tax free. The HSA permits unused
funds to rollover from year-to-year and is The HRA plan utilizes the same network of providers as the HSA
portable. Meaning the funds are yours to plan and allows for the same lexibility. The difference is that the
keep. The funds in the account can be used plan provides you with a fund of money to use for your out-of-
to pay for qualiied medical expenses. pocket medical expenses. The HRA plan allows a maximum balance
of $6,000. Once the fund is depleted, you are responsible for any
You can make pre-tax contributions to your remaining expenses out of pocket.
HSA. In addition, BRP may contribute HSA
“seed” money at its discretion and earned “Seed” money and wellness dollars will be deposited into the HRA
wellness dollars into the HSA (and HRA account as communicated.
accounts) as communicated. Following are
the 2015 annual maximum contributions.
The IRS mandates maximum contribution
limits to HSAs annually.
z $3,350 for an individual
z $6,650 for a family
z If you are age 55 or older you are eligible
for an additional catch-up contribution
of $1,000 annually
BRP US Inc. 6
Account Reimbursement
(HSA) Account (HRA)
The Health Savings Account The Health Reimbursement Account (HRA)
(HSA) Plan Plan
If you enroll in the BRP medical plan, you The CDHP with HRA option will be available to employees who
are eligible to use a Health Savings Account. do not qualify for the HSA. This includes employees enrolled in
The HSA permits both employers and Medicare or Medicaid and those covered by Tricare. In this case,
employees to contribute funds on a pre-tax BRP’s plan would be primary while the government plan would pay
basis and also allows funds to accumulate secondary.
and grow tax free. The HSA permits unused
funds to rollover from year-to-year and is The HRA plan utilizes the same network of providers as the HSA
portable. Meaning the funds are yours to plan and allows for the same lexibility. The difference is that the
keep. The funds in the account can be used plan provides you with a fund of money to use for your out-of-
to pay for qualiied medical expenses. pocket medical expenses. The HRA plan allows a maximum balance
of $6,000. Once the fund is depleted, you are responsible for any
You can make pre-tax contributions to your remaining expenses out of pocket.
HSA. In addition, BRP may contribute HSA
“seed” money at its discretion and earned “Seed” money and wellness dollars will be deposited into the HRA
wellness dollars into the HSA (and HRA account as communicated.
accounts) as communicated. Following are
the 2015 annual maximum contributions.
The IRS mandates maximum contribution
limits to HSAs annually.
z $3,350 for an individual
z $6,650 for a family
z If you are age 55 or older you are eligible
for an additional catch-up contribution
of $1,000 annually
BRP US Inc. 6
