Since health insurance costs are rising in the U.S., many employers are adopting new strategies to provide their employers with health benefits -- one way being account-based health plans (ABHPs). Two common types of ABHPs are Healthcare Reimbursement Plans (HRPs) and Health Reimbursement Arrangements (HRAs). These types of health benefits lower the cost of healthcare without reducing coverage for employees.
And although both HRPs and HRAs are commonly used amongst employers, many employers are unsure what the difference is between each plan. To help clear up any confusion, we’ve put together a chart to show you a side-by-side comparison.
