HRA vs HSA – WHAT’s THE DIFFERENCE?

A Health Reimbursement Arrangement, or HRA, is an account that employers use to reimburse employees’ medical expenses, such as deductibles, medical co-pays and eligible medical costs. The HRA funds are available as long as you remain employed by an OGB-participating employer.

A Health Savings Account, or HSA, is an employee-owned account used to pay for qualified medical expenses, including deductibles, medical co-pays, prescriptions and other eligible medical costs. To enroll in an OGB HSA, you must enroll in the Pelican HSA 775. Both employees and employers can contribute to a HSA, but the funds are owned by the employee. The HSA funds are available even if you are no longer employed by an OGB-participating employer.

Health Reimbursement Arrangement (HRA)

Health Savings Account (HSA)

Funding

 

Employer funds HRA

Employer and employee funds HSA

Funds stay with the employer if an employee leaves an OGB-participating employer

Funds go with the employee when he/she leaves an OGB-participating employer

Contributions are not taxable

Contributions are made on a pre-tax basis

Funds stay with the employer if an employee leaves an OGB-participating employer

Funds go with the employee when he/she leaves an OGB-participating employer

Only employers may contribute

Employers or employees may contribute

Flexibility

Employer selects the maximum contribution

IRS determines the maximum contribution

Must be paired with the Pelican HRA 1000

Must be paired with the Pelican HSA 775

Contributions are the same for each employee

Contributions are determined by employee and employer

May be used with a General-Purpose FSA

May be used only with a Limited-Purpose FSA

Simplicity

HRA claims are processed by the claims administrator

Employee manages account and submits expenses to the HSA trustee for reimbursement

IRS regulations and the Pelican HRA 1000 plan document govern expenses, funding and participation

IRS regulations govern expenses, funding and participation

Eligible Expenses

Can be used for medical expenses only

Can be used for pharmacy, dental, vision and medical expenses.

 

HRA AND HSA RESOURCES

Blue Cross and Blue Shield of LA

www.bcbsla.com/ogb

1-800-392-4089

8:00 AM – 5:00 PM CT Monday-Friday

MedImpact (Pelican HRA 1000)

https://mp.medimpact.com/ogb

1-800-788-2949

24 Hours, Seven Days a Week

Express Scripts (Pelican HSA 775)

1-866-781-7533

6:00 AM – 11:00 PM CT

Seven Days a Week

Provider Directory

Pelican HSA 775 Schedule of Benefits

Pelican HSA 775 Benefit Plan

Pelican HRA 1000 Schedule of Benefits

Pelican HRA Benefit Plan

HRA Benefit Plan

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