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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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HRA changes for 2007

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: I planned to start a Health Reimbursement Account for our small company this year but decided to wait until the beginning of 2007. You wrote that the plan is changed?

A: The low cost small business health plan from Freedom Benefits now combines the HRA with other options that make it more flexible for small businesses. For this reason, it makes sense to resubmit a Health Plan Design Worksheet. This is a brief summary of the changes for 2007: 1. All of the following most popular consumer options are now included in one health plan: Health Reimbursement Arrangement (HRA), Health Savings Account (HSA), Flexible Spending Arrangement (FSA), Health Insurance, PPO discount pricing plan (PPO). 2. The service fee is reduced to $5 per participant per month and includes all required services. 3. Health insurance services are expanded to include independent third party review of competitive proposals. 4. Service for the remainder of 2006 is free for new plans started before December 15, 2006 The 2007 plan also includes a number of technical updates in response the Pension Protection Act of 2006 and several IRS announcements.


More resources:

Health Plan Design Worksheet